New casino taking shape as revenues climb

Bristol Herald Courier
New casino taking shape as revenues climb
Wild Casino

BRISTOL, Va. — Virginia reporting with a solid $13.53 million in adjusted gaming revenues during the month of July, according to a new report from the Virginia Lottery.

The temporary Bristol Casino, future home of Hard Rock, reported $11.01 million in adjusted gaming revenues — wagers minus winnings — from its 908 slot machines and $2.51 million from its 29 table games, according to the lottery report. Since opening, slots traditionally remain about 80% of the casino’s gaming business.

The July total is about $800,000 more than reported in June and ranks among the four highest AGR months for this calendar year.

Visitors to the Bristol Casino property can now get a good look at the expansive Hard Rock Hotel and Casino project that is starting to take shape at the former Bristol Mall site. After removing much of the former mall and leveling the site, four massive industrial cranes now dominate the Gate City Highway skyline, lifting steel beams into place as workers assemble the structure.

The steel skeleton of the future hotel, casino and related structures are seemingly growing every day.

In its first full year of operation, the casino generated $162.6 million in adjusted gaming revenue, well above projections for the mature, full Hard Rock facility, established in a 2020 Virginia casino gaming report by the Joint Legislative Audit and Review Commission.

Statewide, Virginia’s three operating casinos reported $57.3 million in adjusted gaming revenue. Rivers Casino Portsmouth accounted for $22.3 million with 64%, or $14.2 million coming from over 1,400 slot machines and $8 million, 36%, from its 81 table games. The revenues represent a solid rebound after reporting $20.5 million in June and breaking the trend of having lower revenues every month since opening in late January.

The new temporary casino at Caesars Virginia in Danville generated $21.4 million in adjusted gaming revenue with $15.9 million, 74%, coming from its 767 slot machines and $5.5 million, 26%, generated from its 25 table games. The Danville facility opened in May.

Statewide, 72% of gaming revenue came from slots and 28% from table games, the report shows.

The Bristol Casino generated more than $2.4 million in taxes, including over $811,000 to be divided among Bristol and other localities in Southwest Virginia.

Statewide, the three casinos accounted for over $10.3 million in new state tax revenues with over $2.6 million divided between host cities in Portsmouth and Danville, according to the report.