Virginia’s casino industry continues to gain momentum, with revenue reaching an all-time high of $85.4 million in May 2025 across the state’s three gaming properties.
Record-Breaking Performances
The Virginia Lottery, which has overseen gambling expansion since 2020, reports that both Rivers Casino Portsmouth and Hard Rock Hotel & Casino Bristol achieved all-time monthly highs in revenue.
- Rivers Casino Portsmouth generated $28.3 million in gross gaming revenue (GGR), surpassing its previous March record of $27.8 million.
- Hard Rock Bristol brought in $23 million, exceeding its prior March high of $21.3 million.
- Caesars Virginia, the top-performing casino in the state, reported $34 million in revenue, though it fell short of its March peak of nearly $36 million.
Retail and mobile sports betting revenue was not included in this report and will be detailed separately.
Growing Tax Revenues
Virginia’s graduated gaming tax system ensures that as casino revenue grows, so do state contributions. In May, Virginia collected $15.4 million in taxes, distributed as follows:
- 6–8% directed to host cities.
- 1% allocated to the Problem Gambling Treatment and Support Fund and the Family and Children’s Trust Fund.
- The remainder deposited into the state’s General Fund to support budgetary priorities.
Casino Industry Expansion
Virginia’s casino market is solidifying its presence:
- Hard Rock Bristol opened its permanent resort in November 2024.
- Caesars Virginia, a joint venture between Caesars Entertainment and the Eastern Band of Cherokee Indians, launched in December 2024.
- Rivers Casino Portsmouth, owned by Rush Street Gaming, remains a key player.
Two additional casino developments are in progress:
- The Pamunkey Indian Tribe and Boyd Gaming are building a resort casino along the Elizabeth River in Norfolk.
- Cordish Companies is in the early stages of developing a Live!-branded casino in Petersburg.
Richmond Casino Rejected, Sixth Casino Unlikely
Virginia’s 2020 gaming bill authorized five casino locations—Portsmouth, Bristol, Danville, Norfolk, and Richmond. However, Richmond voters twice rejected their casino designation, prompting lawmakers to shift the opportunity to Petersburg, where voters overwhelmingly backed gambling expansion.
Some Northern Virginia lawmakers have floated the idea of a casino in Fairfax County, citing potential tax benefits and a strategy to curb gaming dollars flowing to Maryland. However, the General Assembly remains hesitant, making approval for a Tysons or D.C.-area casino unlikely.
