The Virginia Lottery has unveiled its casino gaming activity report for December 2024. The state is home to three operational casinos: Hard Rock Hotel & Casino Bristol, Rivers Casino Portsmouth, and Caesars Virginia.
Key Highlights:
- Total Gaming Revenues: In December, the combined gaming revenues from Virginia casinos reached $74.9 million.
- Taxes: Under Virginia law, a graduated tax is applied to a casino’s Adjusted Gross Revenue (AGR), which is wagers minus winnings. In December, $16.2 million in taxes were paid to the Gaming Proceeds Fund.
Casino Approvals and Openings:
- Hard Rock Bristol: The Virginia Lottery Board approved its license in April 2022. The temporary facility opened on July 8, 2022, and the permanent casino welcomed visitors on November 14, 2024.
- Rivers Casino Portsmouth: Received its license in November 2022 and opened to the public on January 23, 2023.
- Caesars Virginia: Approved in April 2023, with the temporary facility in Danville opening on May 15, 2023, and the permanent casino launching on December 17, 2024.
Tax Distributions: According to state law, taxes on casino AGR are distributed to various funds:
- Problem Gambling Treatment and Support Fund
- Family and Children’s Trust Fund
- Host Cities: For the Bristol casino, the portion of taxes allocated to the host city goes to the Regional Improvement Commission.
The report underscores the contributions of Virginia’s casinos to the state’s economy and the importance of regulatory oversight in ensuring responsible gambling practices.
