Virginia’s Casino Revenues: A Snapshot of January’s Performance

The state’s three casinos, each at different stages of operation, contributed to this total, showcasing the growing landscape of casino gaming in Virginia.

Casino Contributions and Revenue Breakdown

The Bristol Casino, Virginia’s inaugural casino venture, contributed approximately $12.07 million to January’s total, derived from its slots and table games. Rivers Casino Portsmouth, the state’s first permanent casino establishment, led the revenue chart with a significant $23.5 million contribution. The temporary Caesars Virginia in Danville also made a notable impact with $17 million in revenue.

The gaming revenues have translated into significant tax contributions, with a total of $9.5 million collected in January. Local communities, particularly the host cities of Portsmouth, Danville, and the Bristol region, benefited directly from these contributions, receiving a portion of the adjusted gaming revenues.

Future Developments and Expansion

The gaming landscape in Virginia is poised for further expansion, with the HeadWaters Resort & Casino in Norfolk underway. Despite some delays, the project promises to add to the state’s gaming offerings. Additionally, legislative efforts are in motion to potentially introduce a casino in Petersburg, indicating a growing interest in casino gaming across the state.

Our Commentary on Virginia’s Gaming Sector

Virginia’s casino gaming sector demonstrates resilience and potential for growth, despite the slight downturn in January. The strategic tax framework and the direct benefits to local communities underscore the positive impact of the industry.

With upcoming projects and potential new sites, Virginia is solidifying its position in the national gaming scene, promising exciting developments for players and stakeholders alike.