Virginia Casinos Report Year-Over-Year Growth in June Revenues

The Rivers Casino Portsmouth leads the way for casino gaming revenues in Virginia, but its competitors – Caesars Virginia and Hard Rock Bristol – are both building permanent casino resorts slated to open before the end of 2024. (Image: Facebook/RiversCasinoPortsmouth)

The Virginia Lottery reported Monday that its three casinos brought in $59.5 million in revenue during June, a significant increase over the same month in 2023.

While the numbers were strong for the month, the report did end a three-month streak in which the casinos won more than $60 million between slots and table games.

Rivers Portsmouth sees strong growth in June

Caesars Virginia, the newest casino in the state, only opened a temporary facility in Danville in May 2023, with June being its first full month of operation last year. That made this this first opportunity for the state to see a full comparison of year-over-year numbers for all three casinos currently in operation.

Overall, the news was good for the state. All three casinos saw increases in revenue compared to June 2023, with the total marking increasing 14% from last year’s total of $52.2 million.

Rivers Portsmouth remains the biggest winner in the state, and is also the largest of the three casinos, featuring over 1,400 slot machines and 81 table games. Rivers Portsmouth brought in $25.9 million, up more than 26 percent from last June.

Of the three casinos, Caesars saw the least growth year-over-year. The company’s temporary facility in Danville was largely flat, enjoying only a modest 1.5 percent growth in revenues to $19.2 million in June compared to the previous year. Caesars is hoping to open its permanent casino in the city by the end of December.

Two More Casinos Possible in Virginia

Casino revenues are likely to continue growing in Virginia, both as facilities improve and as many as two new casinos are built over the coming years.

The city of Norfolk has already approved the building of a casino. The city chose HeadWaters as its development partner, but rejected a two-phase plan that would have seen the casino itself and the adjoining resort developed separately. Voters approved the Norfolk casino in 2020, but there is a statutory deadline for the operator to obtain a gaming license by November 2025 – a deadline that HeadWaters may not be able to meet.

Meanwhile, the Petersburg city council is moving forward with plans to develop a casino with The Cordish Companies and Bruce Smith Enterprise, partners that were chosen after a contentious process in the city. Local voters will need to approve the plan via a ballot referendum later this year in order for construction to go forward.