Live! Casino Virginia, housed temporarily on Wagner Road in Petersburg, has generated $4.7m in revenue within its first 10 days of operation. The temporary resort, which is due for completion in 2027, contributed $282,000 in taxes to the city of Petersburg within the 10-day period.
According to figures recently released by Virginia Lottery, the site earned the amount between the days of January 22 - 31, with most of the revenue coming from the 926 slot machines. In fact, that total was just over $3.9m with the 32 table games earning just shy of $790,000.
Under current Virginia casino revenue laws, the venue must share between 6% and 7% of its monthly revenue with its host city. In fact, Live! Casino had to hand over $15m before anybody stepped foot in the venue.
The new venue, to be built adjacent to Interstate 95, was announced in November 2024 and is slated for completion in 2027; it would include a 300-room hotel and a 4,000-seat entertainment center.
Additionally, the gaming space will feature 1,600 'Vegas-style slots', more than 60 live table games and a sportsbook. Further, a 22-table poker room and high-roller areas will also make up part of the new installation also. News has come that work on the $1.4bn project has started, and it is expected to be completed in 2027.
Recent estimates have suggested that the new casino could generate $2.8bn in regional economic activity and $504m in tax revenue annually, with $240m of that going directly to the city of Petersburg. Currently, officials have said the temporary site is averaging 5,000 visitors a day.
The temporary Live! Casino
In the meantime, Live! Casino has opened a temporary casino alongside the existing construction site. The temporary casino is a sizable venue itself. While it lacks amenities like an entertainment center or hotel rooms, it offers 900 slots and 32 table games.
In total, the temporary Live! Casino had a tax bill of $845,206 for its first few days of operation. This has been divided up into a range of funds including a Problem Gambling Treatment and Support Fund, Family and Children's Trust Fund and the Virginia Indigenous People's Trust Fund.
Jon Cordish, Principal of The Cordish Companies, said of the project: "We are proud to introduce an unparalleled entertainment experience to this market – the area's first full-scale casino, offering the pulse-pounding excitement of Vegas-style slots, dynamic table games and the unmistakable energy that defines the Live! brand.
"Live Casino Virginia is a game-changing development, positioned to be a catalyst for entertainment, hospitality, and sustained economic growth throughout the region for decades to come."
Virginia's evolving gambling industry
Virginia is in the process of expanding its retail casino industry. The State has three permanent, operational casinos – Hard Rock Bristol, Rivers Casino Portsmouth and Caesars Virginia.
In November, the Interim Gaming Hall, a temporary 3,600-square-foot facility, opened its doors in Norfolk. It raised $1.4m in its first month of operation, albeit from being a smaller venue with fewer slots and no table games. The permanent casino, which will overlook Harbor Park, is set to open in fall 2027.
The industry is set for further shakeup in the coming years, too. Lawmakers advanced a Bill to allow a new casino to be built in Fairfax County. Previous iterations of the Bill failed, and the new Bill will need House and voter approval before it can proceed.
Meanwhile, the state is progressing with several key pieces of gambling legislation, including SB 118, which would bring iGaming to the Old Dominion.
Despite initially being rejected 19-20, Senate Bill 118 was brought back by the Senate and passed 19-17.
If successful, SB 118 would allow retail casinos to operate up to three online skins each. Tax would be levied at 20% of adjusted iGaming revenue. An additional 6% of revenue would be handed over to the Casino Gaming Hold Harmless Fund.
