Today, the Virginia Lottery published its report on casino gaming activity for November 2024. Virginia hosts three operating casinos: Hard Rock Hotel & Casino Bristol, Rivers Casino Portsmouth, and Caesars Virginia.
In November, gaming revenues from these casinos totaled $63.6 million. Virginia law imposes a graduated tax on a casino’s Adjusted Gross Revenue (AGR), or wagers minus winnings, resulting in $13.3 million in taxes paid to the Gaming Proceeds Fund.
The Virginia Lottery Board approved the casino license for Hard Rock Bristol in April 2022. The temporary facility at the former Bristol Mall opened on July 8, 2022, and the permanent casino opened on November 14, 2024. The Board approved the license for Rivers Casino Portsmouth in November 2022, and it opened on January 23, 2023. The license for Caesars Virginia was approved in April 2023, with the temporary facility in Danville opening on May 15, 2023.
State tax on casino AGR is distributed to the Problem Gambling Treatment and Support Fund, the Family and Children’s Trust Fund, and the host city. For the Bristol casino, the statute specifies that the portion of taxes reserved for the host city goes to the Regional Improvement Commission (RIC). The timing of tax distributions varies, but the allocation of monthly taxes from casino activit.
