February brings in record-high daily Bristol Casino revenues

February brings in record-high daily Bristol Casino revenues
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BRISTOL, Va. (WJHL) — Bristol’s Hard Rock Casino posted a small increase in revenue for February, bringing in $13.7 million in “adjusted gross revenue” (AGR) and netting the Southwest Virginia Regional Improvement Commission more than $823,000 for local projects.

The total was slightly higher than January’s but with a 28-day month, it represented the highest daily average revenue for any of the seven full months the casino has been operating. The average daily AGR was $490,421, better than the previous high average of $479,969 in December.

The casino’s 23 table games produced an AGR of $2,536,835, while its 890 slot machines yielded $11,194,940. Hard Rock paid a total of $2,471,720 at an 18% tax rate.

Under state law, casinos are required to dedicate a portion of the AGR to local governments. For the Bristol Casino that means giving 6% of the total AGR to the Regional Improvement Commission (RIC), which benefits localities across Southwest Virginia.

February’s $823,907 to the RIC put its total revenue since July 2022 at $6.2 million.

The Hard Rock Casino, still located in a temporary location, saw its revenue dwarfed by that of the second casino to open in Virginia, the Rivers Casino in Portsmouth. The Rivers, which has 430 more slot machines and about three-and-a-half times as many table games, reported an AGR of $24.7 million, including $7.5 million from table games. Its 81 table games averaged slightly less AGR than Bristol’s 23.

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