Virginia: Rivers Casino Portsmouth records lowest monthly revenue at $20 million in October

Virginia: Rivers Casino Portsmouth records lowest monthly revenue at $20 million in October
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Virginia's Rivers Casino Portsmouthreported revenues of just over $20 million in October, marking the lowest monthly figure since its inauguration in January 2023.

Although only slightly below its peak of nearly $25 million in February, the casino has experienced agradual decline in revenue since its initial month of operation, WAVY-TV 10 reported.

Of the total revenue for October, $14.3 million was generated from the casino's 1,461 slot machines, while just over $5.7 million was attributed to its 81 table games. Portsmouth's city government received more than $1.2 million in tax revenuedesignated for host cities as part of the monthly earnings.

The casino's financial performance since its opening is outlined below:

  • January (9 days): $9.04 million
  • February: $24.66 million
  • March: $23.63 million
  • April: $21.33 million
  • May: $20.62 million
  • June: $20.54 million
  • July: $22.35 million
  • August: $21.54 million
  • September: $20.05 million
  • October: $20.04 million

In the same month, the commonwealth's two other casinos, Caesars Virginia in Danville and HR Bristol,generated $16.8 million and $12.7 million respectively.

Looking ahead, it remains to be seen whether the Virginia State Supreme Court's decision in mid-October to prohibit "skill games" in the commonwealth will impact the future of casino gambling.

Meanwhile, developers for the casino in Norfolk have recentlysubmitted a preliminary site plan to the city, signaling their ongoing efforts to establish the casino.

In July, Rivers Casino Portsmouth welcomed its millionth customer,a little over five months after opening its doors to the public in January. Portsmouth’s 250,000-square-foot facility, located on Victory Boulevard near Tidewater Community College, boasts nearly 1,500 slot machines, two dozen poker tables, nearly a dozen restaurants, and other amenities. 

It is thefirst permanent casino in the state, whereas both Hard Rock Bristol and Caesars Virginia operate as temporary facilitieslocated in Bristol and Danville, respectively.