According to the Virginia Lottery’s last report, the state’s retail casinos raked in $57 million in revenue in October 2024, which is a 14.9% year-on-year increase. Rivers Casino Portsmouth accounted for 44.56% of this figure, with Hard Rock Hotel & Casino Temporary Bristol contributing 23.51% and Caesars Virginia Temporary 31.93%.
Rivers Casino Portsmouth has enjoyed a fantastic 2024 so far and is the main reason why Virginia is listed as having the second-highest state for year-over-year retail casino revenue growth in Q3. It was about 9%, while in August it reported a 23.7% annual revenue increase to $26.65 million. Only Nebraska was better.
The temporary casino in Danville, that held the door for the Caesars Virginia, also contributed to the numbers. Caesars Virginia is set to open in December, while the second casino, Hard Rock Bristol, just opened two weeks ago, on November 14. There is no doubt that Virginia’s numbers for November and December will break new records.
There is a fourth casino that’s being planned, the HeadWaters Resort & Casino Norfolk, by the Pamunkey Indian Tribe, but construction hasn’t yet started and the deadline could be missed.
Rivers Casino Portsmouth opened ints doors in January 2023, when it became Virginia’s first full-service permanent casino after the Virginia legislators passed a bill in 2020 that allowed the establisment of casinos. They were open to five eligible host cities: Portsmouth, Richmond, Norfolk, Danville and Bristol. Each city must also hold a referendum before a casino is allowed. Four said yes: Portsmouth, Norfolk, Danville and Bristol.
The 50,000 square-foot casino floor features around 1450 slot machines, 57 table games, 24 poker games and a sportsbook. There is also a 3,000-seat event center and other amenities and dining options. There is no hotel. The property is owned by Rush Street Gaming.
It has been reported that Hard Rock Hotel & Casino Bristol has already accepted over 100,000 customers in only two weeks, with a 99% occupancy during the opening weekend. The casino has paid $12 million in jackpots already.
For comparison, Rivers Portsmouth celebrated its one-millionth customer five months after opening its doors. This works out to about 50,000 visitors per week, which seems to be the pace Hard Rock has started with.
The temporary casino was opened on July 8, 2022, so this was in fact the first non-permanent casino in Virginia. Hard Rock got their licence more than a year before Rivers did.
Hard Rock Bristol is a $520 million resort with 2,700 slot machines, 100 table games, 750-room hotel and a 3,200-seat entertainment venue.
The grand opening is scheduled for December 12, and Caesars Virginia is already taking reservations for hotel rooms for the day after. The $750 million casino resort will feature 1,400 slot machines, 80 table games, a WSOP poker room, a sportsbook, a 2,500-seat entertainment venue, a 320-room hotel, a spa and some dining options as well as lounges and bars.
This opening will supplant the temporary Danville casino which opened in May 2023. This will be the third permanent casino in Virginia.
The resort was approved in November 2020 and is set to be built in the middle of the city on the Elizabeth River. This will be the only casino in Norfolk and will be operated by a recognized Virginia tribe of Pamunkey Indians.
The $500 million complex will include 3,000 slot machines, 150 table games and a 300-room hotel with spa and pool, as well as an entertainment center. This will make it the largest casino in the state according to the number of slot machines and table games.
There is a statutory requiement for the casino to be opened by November 2025, exactly five years after the Norfolk residents approved it. Construction hasn’t started yet – not a speck of dirt has been turned –
Sports betting handle in Virginia hit a record $696.1 million in October. This number is 21.8% higher than the handle last October, and it represents a 11.9% increase compared to this September. Online betting contributed a whopping 99.43% to the handle, with retail’s contribution miniscule as there’s only one betting shop – the one in Rivers Casino Portsmouth.
Sports betting in Virginia went live in 2021, and out of 18 available slots for online operators, 13 are filled. Bally Bet, Bet365, Betr, Betfred, BetMGM, BetRivers, Caesars, DraftKings, ESPN Bet, FanDuel, Hard Rock Bet, Fanatics and Sports Illustrated are present in the market.
Each of the proposed five retail casinos in Virginia are allowed to have their own retail sportsbook if they choose.
Currently, real money online casinos and poker rooms are still not legalized in Virginia. This is likely the reason why the retail casinos are so popular, as they remain the only legal option for the Virginia residents to gamble on casino games.
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Dave Schwab 
December 4, 2024 
