Data released this week by the Virginia Lottery highlights the performance of the state’s three land-based casinos for September 2024. Adjusted gaming revenue (AGR) reached almost $56.6 million, marking an increase of approximately 9.0% compared to last September’s $51.9 million. While the results fared positively year-over-year, all casinos reported a drop in AGR compared month-on-month to August 2024.
Slot games accounted for around 76.1% of the AGR total in September, collecting $43.0 million. The remaining $13.5 million came from table games like blackjack, poker, and roulette. Across the three casinos, a total of 3,150 slot machines and 150 table games are in operation.
The Comparisons
Rivers Casino Portsmouth led the way with $24.2 million in revenue and the most positive year-over-year increase of 20.7%. In second place, Caesars Virginia collected almost $18.3 million in revenue. However, this marks a 4.6% drop from the $19.1 million generated in the same month last year. Finally, HR Bristol saw a 10.8% year-over-year increase, with close to $14.1 million in AGR.
| Casino | September 2023 | September 2024 | Change |
|---|---|---|---|
| Rivers Casino Portsmouth | $20,054,889.77 | $24,216,039.79 | +20.7% |
| Caesars Virginia | $19,141,397.49 | $18,255,465.11 | -4.6% |
| Hard Rock Bristol | $12,715,854.55 | $14,091,172.14 | +10.8% |
| Total | $51,912,141.81 | $56,562,677.04 | +9.0% |
Meanwhile, all three casinos reported a revenue drop compared to August 2024, resulting in an overall month-on-month decline of 10.3%. Hard Rock Bristol saw the steepest drop of 11.6%, with revenue down from $15.9 million to $14.1 million.
| Casino | August 2024 | September 2024 | Change |
|---|---|---|---|
| Rivers Casino Portsmouth | $26,647,135.48 | $24,216,039.79 | -9.1% |
| Caesars Virginia | $20,478,386.79 | $18,255,465.11 | -10.9% |
| Hard Rock Bristol | $15,940,186.74 | $14,091,172.14 | -11.6% |
| Total | $63,065,709.01 | $56,562,677.04 | -10.3% |
Impact of a Fourth Casino
September’s totals resulted in $11.4 million paid in taxes to the Gaming Proceeds Fund, which distributes funds to the host cities, the Family and Children’s Trust Fund, and the Problem Gambling Treatment and Support Fund. These distributions are set to increase next year, with Virginia welcoming a fourth casino in the City of Norfolk.
The City Council of Norfolk recently gave the Pamunkey Tribe and Boyd Gaming the green light to start constructing the casino. The temporary casino is scheduled to open in October 2025, while the final casino will open in September 2027.
In 2019, the Virginia General Assembly approved legislation to allow voters in five cities across the state to decide whether to license a casino in their city. In November 2020, voters approved casinos in Bristol (Hard Rock), Danville (Caesars VA), Portsmouth (Rivers), and Norfolk. HR Bristol was the first to open in July 2022, followed by Rivers in January 2023 and Caesars in May 2023.
The fifth casino license was allocated for Richmond. However, voters in the area have rejected a casino twice. Now, the license is set to be transferred to Petersburg, with voters to decide on its fate in the November ballot.
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