Casino earnings in Virginia surge by 31.9% compared to the same period last year, as reported in June.
The three commercial casinos in Virginia - Hard Rock Bristol, Rivers Casino Portsmouth, and Caesars Virginia - have reported impressive year-over-year revenue growth in June 2024, collectively generating $78.5 million in adjusted gaming revenue. This represents a 31.9% increase compared to the same month last year.
Leading the pack is Caesars Virginia, which showed a staggering 59.1% revenue rise, bringing in $30.6 million compared to $19.2 million in June 2023. Caesars Virginia also had the largest absolute increase in revenue among the three casinos. Hard Rock Bristol, on the other hand, had the highest percentage increase in revenue, with a 49.4% jump from $14.4 million last year to $21.4 million in June 2024. Rivers Casino Portsmouth increased its year-over-year revenue by 2%, from $25.9 million to $26.5 million.
These growth figures, driven primarily by Hard Rock Bristol and Caesars Virginia, resulted in a combined year-over-year revenue increase of $14.1 million for the state government, a significant boost for Virginia's economy.
In other casino-related news, Live! Casino & Hotel Virginia recently announced key executive hires as it nears completion. Kirk Marlowe, a 37-year veteran of the Virginia State Police, has been appointed as Head of Security. Cheryl Brown, with over 25 years of marketing leadership including stints in Atlantic City, the Bahamas, and Maryland, has been named Vice President of Marketing. Patricia Tuck, who has held senior HR roles in WarHorse Gaming, Seneca Gaming, Harrahโs, and SugarHouse Casino, will serve as Vice President of Human Resources.
These appointments were made while the casino is still under construction, signalling Live! Casino & Hotel Virginia's commitment to building a strong leadership team.
The taxes raised from the casino revenue are allocated to the Problem Gambling Treatment and Support Fund, the Family and Children's Trust Fund, and the Regional Improvement Commission, ensuring that the benefits of the gaming industry extend beyond the casinos themselves. The Virginia Lottery reported these revenue figures.
Casino-and-gambling revenue growth continued in Virginia with the announcement of casino games revenues for June 2024. Caesars Virginia reported a significant 59.1% increase in casino-games revenue, generating $30.6 million compared to $19.2 million in the same month last year.
