Virginia reports $38.4m in gaming revenue for February

  • Tuesday 21 March, 2023
Virginia reports $38.4m in gaming revenue for February

The Virginia Lottery published its February report, revealing a total revenue of about $38 million.

Later in 2020, a legal allowance to start casino construction was put in force by the General Assembly of Virginia.

Only Portsmouth, Norfolk, Bristol, and Danville cities have given their approval for building casinos.  

For instance, a popular Hard Rock Hotel & Casino, located in Bristol was public from July 8th, 2022. After Rivers Casino Portsmouth opened starting from January 23rd, 2023. In Norfolk Caesars Virginia in Danville and HeadWaters Resort & Casino are expected to commence their operations in 2024, completing the construction of all approved gaming houses in Virginia.  

During a half year, in February, the combined profit of Hard Rock Hotel & Casino Bristol and Rivers Casino Portsmouth was published – $38.4 million. The total income generated from slot machines amounted to $28.3 million, while board games contributed $10 million. Furthermore, about $7 million draw up the taxes, which were paid to the Gaming Proceeds Fund.

Unfortunately, the Virginia Senate Finance and Appropriations Committee opposed the construction of a gaming house in Petersburg. And this was rejected although there was a House Bill 1373, which give residents the power to make a decision on the gambling house’s fate. 

The Live! Casino brand, which represents the Cordish Companies had scheduled to start building a $1.4 billion worth resort in Petersburg.  

Representative Kim Taylor, who has come up with House Bill 1373, expressed disappointment, stating that this decision hampers the democratic operation and the community’s economic growth. In her speech, she insisted that Petersburg people merit having the unique chance to predict the community’s Economic future and not depend on Richmond.

Moreover, in November of the last year, the proposed $565 million casino intention by Urban One was rejected by the residents of Richmond.