According to the Virginia Lottery, the year ended with a significant resurgence in casino revenue, achieving a new all-time high for a single month.
In regard to tax collection, the gaming regulators continue to rely on a single establishment. Bristol Casino — Future Home of Hard Rock, Virginia’s sole casino, has disclosed adjusted gross revenue (AGR) of approximately $14.9 million to the state. This represents a significant growth of 17.6% compared to the previous month.
The inclusion of figures from the temporary casino in Bristol will soon be augmented with the addition of totals from Rivers Casino Portsmouth, which is set to open on January 23rd.
The revenue generated by Bristol Casino, as well as Virginia’s overall, up until now, is as follows:
- July, which commenced on July 8th, recorded a total of $11,717,478.
- August — $14,279,379
- September — $14,305,177
- October — $14,144,160
- November — $12,650,361
- December (new) — $14,879,037
- Total — $81,975,592
The AGR is calculated by deducting customer winnings and the state’s 18% tax assessment from casino bets.
Get used to Virginia casino revenue records
Virginia should expect a series of record revenue numbers to begin with December’s new mark.
In total, there are four cities that have been given approval to establish a Virginia casino. In addition to Bristol and the full-scale casino in Portsmouth, Danville and Norfolk will also be opening temporary casinos as new gambling destinations.
On Wednesday, the Virginia General Assembly gathered for a session where they discussed the possibility of including Richmond and/or Petersburg as potential cities for casinos.
In Virginia, residents have access to 13 online sports betting platforms, however, online casino gambling is currently not permitted in the state. To engage in poker or slot machine gaming, individuals must physically visit Bristol.
Similar to the casino games in Bristol, the Virginia Lottery provides a variety of online instant scratch games.
Slots, table games both up in December 2022 Virginia casino report
Revenue from both slot machines and table games increased significantly compared to the previous month, indicating a rise in popularity for both types of gambling in Bristol. However, it is worth noting that slots remain the preferred choice among players in Bristol by a large margin.
Slot machine revenue
- July — $10.2 million
- August — $11.4 million
- September — $11.3 million
- October — $11.2 million
- November — $10.4 million
- December — $12.1 million
Table game revenue
- July — $1.5 million
- August — $2.8 million
- September — $3 million
- October — $2.9 million
- November — $2.2 million
- December — $2.7 million
In total, the state received nearly $2.7 million in tax revenue from the casino.
- The regional commission will receive approximately $892,742, which accounts for 6% of the total funds. This allocation empowers the group to direct the funds towards important areas such as public safety, transportation, and education.
- In December 2022, the state allocated $21,426 (equivalent to 0.8%) towards gambling treatment programs.
- The Family and Children’s Trust Fund receives a state allocation of $5,356 (0.2%) aimed at addressing and preventing family violence.
Virginia’s K-12 education program is directed to receive just under $1.8 million from the betting revenue, as mandated by state law.
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