If you thought November was a good month for Virginia casinos, you should see December.
In the final month of the 2023 calendar year, Virginia’s three casinos combined to generate $58.5 million in adjusted gaming revenue (win after deductions). It was the highest total in Virginia gaming history and a $7.4 million increase over November 2023 gaming revenue.
Virginia casino revenue breaks monthly record by $1.2 million in December
- Rivers Casino Portsmouth: $23.9 million
- Caesars Virginia: $19.7 million
- Hard Rock Bristol:$14.9 million
Each casino’s revenue total is a combination of the money it earned from slot machines and table games. Rivers Casino is the top revenue earner in the state each month, December included. That’s largely because it has more slots and table games than the Caesars and Hard Rock properties.
Caesars and Hard Rock permanent casinos’ monthly revenue projections
According to revenue data from the Virginia Lottery, the group that oversees gaming in the Old Dominion State, Rivers Portsmouth tallied the most overall revenue in December. However, its competitors found a way to earn a bigger win per slot and table game.
This is good news for Caesars and Hard Rock. Both properties are temporary casinos awaiting the completion of permanent locations.
When those permanent properties open up, Caesars and Hard Rock will have more slot machines and table games than they do know. If the two casinos can keep up their December win rate, they will most likely bring in more revenue per month than Rivers.
Caesars plans to have 1,300 slot machines and 85 live table games when it opens its permanent casino this year. Based on December’s numbers, we could see Caesars peak at $23 million in slots revenue and $14.1 million in table-game revenue. The projected total revenue is $37.1 million.
When Hard Rock Bristol’s permanent casino opens this year, it’s slated to have 1,300 slot machines and 50 table games. Using December’s revenue numbers, we could see Hard Rock generate $17.4 million in slots win and $4.7 million in table-games win. The projected total revenue would be $21.8 million.
Using those projections, by December 2024, we could see the Virginia casino industry create nearly $90 million in win.