According to recent data released by the Virginia Lottery, state gaming revenue reached $102 million for July. This resulted in $20.3 million in tax revenue for the Gaming Proceeds Fund. This money is allocated to the Problem Gambling Treatment and Support Fund, the Family and Children’s Trust Fund, the Virginia Indigenous People’s Trust Fund, and the host city itself.
Virginia has five retail casinos: Hard Rock Bristol, Rivers Casino Portsmouth, The Interim Gaming Hall Norfolk, Live! Virginia in Petersburg, and Caesars Virginia. Caesars Virginia led the way in July, earning just over $36 million in revenue. They were followed by Rivers Casino Portsmouth ($28.68 million), Hard Rock Bristol ($22.98 million), Live! Virginia ($13.8 million), and The Interim Gaming Hall Norfolk ($884.97K).
Most of the revenue came from slots, which accounted for over 75% of the total. The remaining 25% came from table games. Table games were most popular at Rivers Casino Portsmouth, accounting for about 39% of the revenue.
While Virginia sports betting is currently legal and operational, online casinos are still illegal. Looking at the retail casino results, we can see that Caesars has a firm grip on market share within the state, leading the way in revenue. This means that if Virginia ever legalized online casinos, there’s a reasonable chance that Caesars would perform well there.
Currently, Caesars trails FanDuel and DraftKings in sports betting market share in Virginia. If online casinos became available, it would help the company see better results within the state, perhaps closing the gap on FanDuel and DraftKings, at least to some extent.
Earlier this year, Virginia advanced House Bill 161, which would legalize online casinos within the state. However, the bill ultimately fell short in the Senate. But with Virginia casinos earning over $100 million in revenue in July, this can be referred to as a selling point to build momentum for another attempt at legalizing online casinos in 2027.
In looking at the data from Virginia casino revenue, we can see that the retail locations have been profitable, so there’s a demand for gaming within the state. This means that if Virginia legalized online casinos, they could earn more state revenue to help fund essential services, including the Family and Children’s Trust Fund.
Additionally, with the absence of a regulated online casino market, Virginia residents are forced to either travel to neighboring West Virginia to play, or even worse, resort to offshore platforms. These are online casinos that don’t have the same consumer protections in place, putting players at risk.
Offshore gaming sites aren’t required to comply with industry standards when it comes to data privacy, responsible gaming, and security protocols. By legalizing Virginia online casinos, the state can create a safe environment where revenue can be used on public services.
Judging by the strong results of Virginia retail casinos in July, there’s a demand for expansion within the state. This could build momentum for another legislative push for online casino legalization in 2027 after a failed attempt this year.
