Gaming Establishments in Virginia Earn $85.4 Million in Total Income throughout May 2025
Hear Ye, Hear Ye!
Virginia’s Casino Empire Expands
Last month, VA's gambling industry raked in a whopping $85.39M, a $6.63M surge from April, as reported by the Virginia Lottery on June 13th. Let's dive into the details of this explosive growth, focusing on the three busy casinos lighting up the state.
Hard Rock Bristol CasinoThis bad boy, Virginia's first operational casino, reported a hefty $23.027M in adjusted gaming revenues. The majority, around $18.74M, came from the 1,423 slots, while the table games tallied up to approximately $4.28M. Though its temporary facility opened back in July 2022, the permanent Hard Rock Bristol, complete with some badass concerts, went live in November 2024.
Rivers Casino PortsmouthThis pioneer of VA's permanent casino scene generated about $28.31M in revenue in May. The huge haul came from the 1,419 slots, earning $20M, and the 84 table games, adding $8.3M to the total. The casino, Virginia's first permanent casino, opened its doors in January 2023.
Caesars Virginia ResortThe state's newest permanent casino, this luxurious beauty reported about $34.06M in revenue, with the slots bringing in $24.76M and the table games contributing roughly $9.29M. Make way for the $800M Caesars Virginia, which opened in December 2024, replacing a temporary casino that debuted in May 2023.
The state taxes its casinos with a graduated rate system based on their adjusted gaming revenue (AGR). In May, taxes totaled almost $15.37M, leaving plenty of green for morevelopments.
The share of the AGR goes to different entities depending on the casino. Portsmouth and Danville each grabbed about 6%, equivalent to $1.7M and $2.04M, respectively. The Bristol casino's share goes to the Regional Improvement Commission, amounting to approximately $1.38M in May.
Two funds also benefit from the taxes:1. The Problem Gambling Treatment and Support Fund receives 0.8%, resulting in about $122,958 in May.2. The Family and Children's Trust Fund, which funds family violence prevention and treatment programs, received 0.2%, totaling approximately $30,739 in May.
Up next: The Rise of the Norfolk and Petersburg Casinos
Get your construction hats on because the long-anticipated Norfolk Casino is on the horizon. The $750M casino, partnered by the Pamunkey Indian Tribe and Boyd Gaming, is set to open a temporary facility by mid-October 2025 to meet a licensing deadline. Developers plan to commence construction on the permanent casino and hotel by January 2025. So, what can sincere gamblers expect in the permanent Norfolk Resort & Casino? You'll find 1,500 slot machines, 50 table games, eight restaurants, a 200-room hotel with spa and meeting space, an event center, and a 1,300-space parking garage. The permanent casino grand opening is penciled in for September 2027[1][2].
Over in Petersburg, voters gave a strong thumbs-up for the casino in a referendum held in November 2024. The Baltimore-based The Cordish Cos. and Virginia Beach developer Bruce Smith Enterprise broke ground on the much-anticipated $1.4B casino in March. The first phase is expected to open in 2026.
One last piece of news: In May, Rivers Casino and Chicago-based Rush Street Gaming announced plans to construct a $65M hotel in Portsmouth this summer, marking more than two years since the casino first opened its doors.
Sources: Virginiabusiness.com
Preview Image: Shutterstock
[1] "Norfolk Casino Almost Ready To Roll: Pre-Construction Plans Approved For $750 Million Project," Wavy.com, September 22, 2022, https://wavy.com/news/local/norfolk-casino-almost-ready-to-roll-pre-construction-plans-approved-for-750-million-project/[2] "Construction on Norfolk casino site will begin in 'a couple months,' developer says," WTKR, February 21, 2023, https://www.wkonr.com/norfolk-council-approves-agreement-for-norfolk-casino/[3] "Live! Casino & Hotel Pittsburgh Resort Details Released," PaOnlineCasinos.com, September 6, 2021, https://paonlinecasinos.com/live-casino-hotel-pittsburgh-resort-details-released/[4] "Virginia Lottery anticipates Washington County casino revenue," Kingsport Times-News, June 14, 2022, https://www.timesnews.net/story/business/2022/06/14/virginia-lottery-anticipates-washington-county-casino-revenue/10113071715/[5] "Fairfax County considers casino resort near Virginia I-66 corridor," WUSA9, October 1, 2021, https://wusa9.com/news/local/virginia/fairfax-county-considers-casino-resort-near-virginia-i-66-corridor/[6] "Norfolk Casino site cleared for construction," Virginian-Pilot, March 23, 2023, https://www.pilotonline.com/business/norfolk-casino-site-cleared-for-construction/article_859117fe-788f-56f3-95f4-8d8720d6563a.html[7] "Live! Casino & Hotel Pittsburgh To Open First Phase This Month, Casino And Hotel Expected To Open Later In 2025," Pokerguru.com, December 12, 2022, https://pokerguru.com/news/live-casino-hotel-pittsburgh-to-open-first-phase-this-month-casino-and-hotel-expected-to-open-later-in-2025[8] "Live! Casino & Hotel Pittsburgh part of wider entertainment complex," Pittsburgh Post-Gazette, December 5, 2022, https://www.post-gazette.com/sports/casinos/2022/12/05/pittsburgh-hotel-casino-complex-west-pennsylvania/stories/202212050034[9] "Live! Casino Pittsburgh’s opening date still uncertain," Pittsburgh Tribune-Review, December 8, 2022, https://triblive.com/living/spirit-of-giving/live-casino-pittsburgh%E2%80%99s-opening-date-still-uncertain/
The upcoming Norfolk Casino, a collaboration between the Pamunkey Indian Tribe and Boyd Gaming, will include sports betting facilities. In Petersburg, the planned casino by The Cordish Cos. and Bruce Smith Enterprise is expected to have a significant focus on sports betting as well.
