Zona de Azar USA – Virginia Casinos Exceed $50 Million in January Gaming Revenue

USA.- February 19, 2024 www.zonadeazar.com In January, a trio of casinos in Virginia collectively generated $52.9 million in revenue, as reported by the Virginia Lottery. The revenue figures were directly proportional to the number of gaming positions at each casino.

Among them, Rivers Casino Portsmouth, the sole permanent casino, led the way with $23.5 million in earnings from 1,466 slot machines and 81 table games.

Hard Rock International’s temporary casino in Bristol reported $12.1 million from 911 slot machines and 29 table games, while the Caesars Virginia temporary casino in Danville earned $17.2 million from 808 slots and 33 tables.

Virginia’s tax revenue received a boost of $9.5 million. State taxes from casino revenue contribute to the Problem Gambling Treatment & Support Fund ($76,124) and the Family & Children’s Trust Fund ($19,031). The city of Bristol received $724,677, Portsmouth collected $1.4 million, and Danville garnered $1.03 million.

Although sports-betting revenue figures for January were not yet available, in December, operators handled $633 million and won $62 million. This represented a 29.5 percent increase in the amount wagered compared to December 2022.

The Virginia Lottery did not provide a breakdown for the state’s 17 licensed operators, with only 10 of them reporting positive revenue. Sports-betting revenue in Virginia is taxed at 15 percent, resulting in a total tax benefit to the state of $57.2 million.

Edited by: @MaiaDigital www.zonadeazar.com