Virginia Lottery totals $55.1 million during August 2023

(PRESS RELEASE) -- The Virginia Lottery released its report on casino gaming activity for the month of August 2023. There are three operating casinos in Virginia: Hard Rock Hotel & Casino Bristol, Rivers Casino Portsmouth, and Caesars Virginia.

During August, gaming revenues from Virginia casinos totaled $55.1 million. Virginia law assesses a graduated tax on a casino’s Adjusted Gross Revenue, or wagers minus winnings, and $9.9 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, 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 15 May 2023.

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:

Total Tax: $9,910,448.83
Host City/RIC (6% of AGR): $3,303,482.95
Problem Gambling Treatment and Support Fund (0.8% of total tax): $79,283.59
Family and Children’s Trust Fund (0.2% of total tax): $19,820.90
Remaining available in the Gaming Proceeds Fund: $6,507,861.39