Virginia records over $35 million in gaming revenue in April 2023

15 May 2023

(PRESS RELEASE) -- Today, the Virginia Lottery released its report on casino gaming activity for the month of April 2023. Gaming activity is from Hard Rock Hotel & Casino Temporary Bristol and Rivers Casino Portsmouth.

During April, gaming revenues from Virginia casinos totaled $35.4 million. Virginia law assesses a graduated tax on a casino’s AGR, or wagers minus winnings, and $6.4 million in taxes were paid to the Gaming Proceeds Fund.

The Virginia Lottery Board approved the casino license for Hard Rock Hotel & Casino Bristol in April 2022, while the Hard Rock Hotel & Casino Temporary Bristol on the site of the former Bristol Mall opened to the public on 8 July 2022. The Virginia Lottery Board approved the casino license for Rivers Casino Portsmouth in November 2022 and the casino opened to the public on 23 January 2023.

Total Adjusted Gaming Revenue:

Slots: $25,120,264.86
Table Games: $10,250,276.95
Total: $35,370,541.81

Of the state tax on casino AGR, the statute specifies distributions to the Problem Gambling Treatment and Support Fund, the Family and Children’s Trust Fund, and the host city. For the Bristol casino, statute specifies the portion of taxes reserved for the host city go to the Regional Improvement Commission (RIC).

Monthly Total:

Total Tax: $6,366,697.53
Host City/RIC (6% of AGR): $2,122,232.51
Problem Gambling Treatment and Support Fund (0.8% of total tax): $50,933.58
Family and Children’s Trust Fund (0.2% of total tax): $12,733.39
Remaining available in the Gaming Proceeds Fund: $4,180,798.05

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Virginia records over $35 million in gaming revenue in April 2023 is republished from Online.CasinoCity.com.

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