Bristol Casino March table game revenues down sharply
BRISTOL, Va. (WJHL) — Bristol’s Hard Rock Casino experienced its weakest month for table game revenue in March, even after adding six new tables mid-month to bring the total to 29. A casino official told News Channel 11 the decrease was not due to a drop in game play but rather to greater winnings by players.
Hard Rock followed its most successful month for average daily revenues in February with a 9% dip in March, with the table game take accounting for much of the drop. Revenue from slot machines, which typically accounts for 80 to 85% of the total, was more in line with normal amounts.
The casino, still at its temporary location, posted adjusted gross revenues (AGR) of just over $13.8 million. That made for the third straight month of revenues under $14 million after Hard Rock had AGR above $14 million in four of its first five full months. AGR is a figure based on wagers minus winnings.
Per day, AGR was $445,303 in March, down from a high of $490,421 in February. Since it opened in early July 2022, the casino’s average daily AGR is $460,473.
March’s figures resulted in $828,262 going into the “Southwest Virginia Regional Improvement Commission” (RIC) which is funding several public-sector efforts across 14 localities (12 counties and the cities of Norton and Bristol) across Southwest Virginia. To date, the casino revenue has benefited the RIC to the tune of just over $7 million.
The daily average AGR for Hard Rock’s 29 table games, where far more money per table is spent than at the casino’s 888 slot machines, was $61,722 in March. That’s well below the average of $86,840 per day from the casino’s July 7, 2022 opening through the end of February and also significantly below the previous low month of November, which saw an average of $74,691 a day in table game AGR.
“Our table game volumes continued to be very strong in March, with our second-highest table drop month since opening,” Hard Rock VP of Marketing Marc DeLeo said in an emailed statement to News Channel 11.
“We are happy to report that our guests enjoyed considerably greater success at the tables in March, compared to prior months, which factored into our overall revenue figures for the month.”