The Virginia Lottery Board reported that Rivers Casino Portsmouth has seen $24.7 million in gaming revenue in February, its first full month of operation. Portsmouth’s casino generated a total of $4.4 million in tax revenue, with nearly $1.5 million of that total headed to the city in a regional fund for education, transportation and public safety improvements.
The board’s latest report was shared Wednesday and shows the state saw a total of $38.4 million in revenue from the state’s two operational casinos. Rivers Casino Portsmouth received its operating license in November and opened on January 23, whereas Hard Rock Bristol has been in operation since July.
Rivers Casino Portsmouth’s launch has been strong, and in the first week and a half after opening its doors alone it reported $9 million in gaming revenue. The state’s Problem Gambling Treatment and Support Fund as well as the Family and Children’s Trust Fund will also receive shares of the tax revenue.
As reported by the Virginian-Pilot, General Manager Roy Corby said that demand is usually high in the beginning and expects it to normalize over time. “We are grateful to our team members, guests to our team members, guests and the community for their continued support,” he said in a statement.
Portsmouth’s 250,000-square-foot facility, located on Victory Boulevard, boasts nearly 1,500 slot machines, two dozen poker tables, restaurants and other amenities. The Virginia Lottery Board’s February report shows slot machines are the most popular as they made up more than $17 million of the total $24.7 million of revenue generated.
The property is the state’s first permanent casino facility, as Hard Rock has been operating in a temporary venue. The Rivers Casino is anticipated to bring in over $16 million in revenue for the city of Portsmouth annually. It’s also given the local workforce a boost by providing over 1,000 jobs.
Original article: https://www.yogonet.com/international/news/2023/03/20/66502-virginia-rivers-casino-portsmouth-sees-25m-in-revenue-during-first-month-of-operation
