Virginia Lottery Releases September Casino Activity Report
VIRGINIA (October 13, 2023) — Today, the Virginia Lottery released its report on casino gaming activity for the month of September 2023. There are three operating casinos in Virginia: HR Bristol, Rivers Casino Portsmouth, and Caesars Virginia.
During September, gaming revenues from Virginia casinos totalled $51.9 million. Virginia law assesses a graduated tax on a casino’s AGR, or wagers minus winnings, and $9.3 million in taxes were paid to the Gaming Proceeds Fund.
The Virginia Lottery Board approved the casino license for HR Bristol in April 2022, and the temporary facility on the site of the former Bristol Mall opened to the public on July 8, 2022. The Virginia Lottery Board approved the casino license for Rivers Casino Portsmouth in November 2022 and the casino opened to the public on January 23, 2023. The Virginia Lottery Board approved the casino license for Caesars Virginia in April 2023 and the temporary facility in Danville opened to the public on May 15, 2023.
|Sept-23||HR Bristol||Rivers Casino Portsmouth||Caesars Virginia||Total|
|Count||AGR||Count||AGR||Count||AGR||Adjusted Gaming Revenue|
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). The timing of the tax distributions varies, but the allocation of the monthly taxes from the casino activity is as follows:
|HR Bristol||Rivers Casino Portsmouth||Caesars Virginia||Monthly Total|
|Host City / RIC (6% of AGR)||$762,951.27||$1,203,293.39||$1,148,483.85||$3,114,728.51|
|Problem Gambling Treatment and Support Fund (0.8% of total tax)||$18,310.83||$28,879.04||$27,563.61||$74,753.48|
|Family and Children’s Trust Fund
(0.2% of total tax)
|Remaining available in the Gaming Proceeds Fund||$1,503,014.01||$2,370,487.97||$2,262,513.19||$6,136,015.17|
About Virginia Lottery
The Virginia Lottery assumed regulatory oversight of casino gaming in the Commonwealth in 2020. Taxes generated by casino gaming will benefit priorities as determined by the General Assembly. Information about casinos, including regulations and approvals, can be viewed at www.vagamingregulations.com.
SOURCE: The Virginia Lottery.Tags: Virginia Lottery