Caesars, Hard Rock Help Virginia Gain 12% in January Revenue

^{Hard Rock Bristol was one of two Virginia casinos to post a year-on-year revenue increase in January. (Photo: David Crigger/ Bristol Herald Courier via AP)}

Virginia commercial casinos recorded $81 million in revenue for January, up from the previous year’s figure of $72.3 million and representing a year-on-year increase of 12%.  

The figures, published by the Virginia Lottery, show that of the total, slots generated $61 million, up 13.4% year-on-year from $53.8 million. Table games revenue also increased last month, rising from $18.5 million to $20 million, a year-on-year increase of 7.8%.  

As casinos in the Old Dominion state celebrate a successful month, lawmakers are also looking to legalize online gambling, with the state’s iCasino bill advancing out of the Virginia Senate General Law Committee last month, along with a regulatory proposal that would see the creation of a sole gambling regulator in the form of the Virginia Gaming Commission.  

Two New Casinos Boost Virginia Revenue in January 

Of the state’s five commercial casinos, two saw revenues increase year-on-year, while only one had a mild decline. Two of the casinos have no representative data, due to only opening their doors to patrons in recent months.  

Caesars Virginia was the state’s highest revenue generator last month, recording $30.5 million, up 6.8% year-on-year. Slots at the casino recorded $21.8 million, up 1.9%, while table games rose 21.3% to $8.7 million.  

Hard Rock Bristol was the only other casino to report a year-on-year revenue increase, rising 5.5% year-on-year to $19.5 million. Both slots and table games were also up at the casino, with slots rising 4.3% to $15.8 million and table games up 11.1% to $3.7 million.  

Revenue at Rivers Casino Portsmouth remained relatively stable, with only a mild year-on-year decline of 0.1% to $25.2 million. Slots increased 7.1% at the casino to $18.5 million, while table games declined 15.6% to $6.8 million.  

The only two casinos that didn’t have year-on-year differences were Live! Petersburg, which opened its temporary facility on January 22 of this year, generated $4.7 million in revenue. $3.9 million was generated by slots and $789,200 by table games. 

The Interim Gaming Hall in Norfolk is another temporary casino site that opened its doors last November and is a joint $750 million venture between Boyd Gaming and the Pamunkey Indian Tribe, recording $1.1 million in slots revenue.  

Virginia iGaming Bill Advances from Senate Committee 

Virginia’s dreams of having a regulated online gambling market became closer to reality last month, with lawmakers on the Virginia Senate General Laws Committee advancing the bill to the Finance and Appropriations Committee.  

The proposal, Senate Bill 118, introduced by Senator Mamie Locke, would legalize online casinos in the state if passed, with each casino able to offer three online platforms by partnering with an operator. The platforms would come with a $2 million licensing fee each, and the bill also states that the Virginia Lottery Board would regulate them.  

Additional bills tied to the iCasino proposal, Senate Bill 195 and Senate Bill 558, also advanced from the Committee and would create a new regulatory body, the Virginia Gaming Commission, to oversee the operation of an iGaming market rather than the Virginia Lottery. 

The bills would ultimately have till the end of the current legislative session to be passed by lawmakers.