Virginia Casinos Set Record $56.6M Revenue in September 2024
The Essentials at a Glance
Casinos in Virginia achieved a record revenue of $56.6 million USD in September 2024. Slot machines contributed the largest share with $43 million USD, followed by table games with $13.6 million USD. The revenue figures indicate that gambling in Virginia continues to grow. The top casinos in September were Rivers Casino Portsmouth, Caesars Virginia, and HR Bristol. Despite the success of the existing casinos, challenges remain in expanding into new cities such as Petersburg.
Revenue Trends of Casinos in Virginia
In September 2024, casinos in Virginia reached a new peak in revenue. According to the Virginia Lottery, the total revenue of the casinos amounted to $56.6 million USD. Of this, $43 million USD came from slot machines, while table games generated $13.6 million USD. These figures highlight the growth of the gambling industry in the state.
The Most Successful Casinos in September
Rivers Casino Portsmouth topped the list of the highest-grossing casinos in Virginia, with an adjusted revenue of $24.2 million USD in September 2024. Caesars Virginia followed in second place with approximately $18.3 million USD, while HR Bristol contributed $14.1 million USD to the overall result. Together, these three casinos paid almost $11.4 million USD in taxes to the Gaming Proceeds Fund, which supports regional community projects.
Challenges in Expanding to Petersburg
Although the existing casinos in Virginia are successful, there are still difficulties in expanding into new cities. For several years, lawmakers in Petersburg have been trying to bring a casino to the city. Despite earlier support, efforts were rejected by a Senate committee in the 2022 and 2023 legislative sessions. However, in 2024, progress was made: both the House of Delegates and the Senate passed legislation supporting a potential casino in Petersburg. Senator Lashrecse Aird’s bill received 78 votes in the House and 24 votes in the Senate.
Our Assessment
Recent developments show that Virginia’s gambling industry continues to grow and establish itself. The existing casinos contribute significantly to the regional economy and generate substantial tax revenue. However, the expansion into new cities like Petersburg remains a challenge, dependent on political decisions. It remains to be seen whether the recent legislative progress will lead to a new casino in Petersburg.
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