Bristol Casino records another $14M month
Gaming revenues for the Bristol Casino remained steady in October, topping $14 million for the third consecutive month, the Virginia Lottery reported Tuesday.
Adjusted gaming revenues totaled $14.14 million for the previous month at the Bristol Casino, future home of Hard Rock. That is down 1.1% compared to September’s record $14.3 million.
Revenue from the casino’s 870 slot machines totaled $11.27 million, which is less than 1% lower than September’s slots revenue.
Its 21 table games generated $2.87 million during October, also slightly below the record $2.98 million reported in September.
The Bristol Casino is the state’s first and currently only licensed casino. It began operations in July. Presently no other casino has been licensed by the Lottery Board although Rivers Casino Portsmouth is expected to open in early 2023. Earlier this year they announced the $300 million complex would include seven dining and entertainment options.
The state assesses an 18% tax on those revenues, which generated more than $2.5 million in tax revenues. Of that total, $848,649.59 will be directed to the Southwest Virginia Regional Improvement Commission to be dispersed among its member localities.
To date the Bristol Casino has generated nearly $10 million in total gaming tax revenues with $3.26 million directed to the regional commission. Those funds are to be distributed next July to fund projects dealing with infrastructure, public safety and education.
Additional tax monies are distributed to a problem gaming fund to provide support for individuals with gambling addiction and to a family and children’s trust fund.