Virginia Casinos Report Solid Results for November
In November, the gaming landscape in Virginia experienced a significant financial surge, registering $51.2 million, according to the latest report on casino gaming activity released by The Virginia Lottery.
In accordance with Virginia’s nascent gaming legislation, a progressive tax structure is levied on a casino’s adjusted gaming revenue (AGR), defined as the balance between wagers and winnings. As a result of the latest performance, the coffers of the Gaming Proceeds Fund saw an infusion of $10.3 million, marking the financial footprint left by the casino industry.
The trio of operational gaming havens in Virginia comprises the Hard Rock Hotel & Casino Bristol, Rivers Casino Portsmouth and Caesars Virginia.
Within the gaming floors of HR Bristol, a fleet of 908 slot machines delivered AGR of $10.15 million. In parallel, the 29 table games contributed an additional AGR of $1.95 million to the casino’s economic support. This led to a cumulative AGR of $12.10 million from 937 gaming options.
Rivers Casino Portsmouth, with over 1,400 slot machines, generated AGR of $14.66 million. This display was accompanied by 81 table games, adding their own distinctive injection of funds and contributing an AGR of $6.94 million.
The fusion of these gaming elements resulted in a collective AGR for the casino. This gaming motion reached $21.6 million across a diverse array of 1,497 gaming options.
Shifting the focus to Caesars Virginia, the stage was set with 830 slot machines, each playing its part in the financial performance by generating an AGR of $12.81 million. 33 table games took center stage, contributing an additional AGR of $4.69 million. The combined AGR, where slot machines and table games played a vital role, resulted in a captivating total of $17.50 million across 863 gaming options.
Casinos collectively amassed a substantial $51.20 million in AGR, with slots contributing a significant $37.62 million and table games adding their own touch with $13.58 million.
November witnessed the fiscal landscape being supplied with tax collections amounting to $10.30 million. Among these contributions, Bristol played a noteworthy role, chipping in $2.18 million, while Rivers Casino Portsmouth made a substantial contribution of $4.97 million, and Caesars Virginia added $3.15 million.
The saga of casino licenses unfolded with the Virginia Lottery Board giving the nod to HR Bristol’s casino license in April 2022. This paved the way for the unveiling of the temporary facility at the former Bristol Mall site, which opened its doors to the public on July 8, 2022.
Rivers Casino Portsmouth stepped into the limelight when its casino license was granted in November 2022. Subsequently, the casino made its grand debut on January 23, 2023. Meanwhile, the narrative continued with Caesars Virginia receiving its casino license in April 2023, leading to the public inauguration of the temporary facility in Danville on May 15, 2023.
- Other news categories:
- SlotsUp's news