The Bristol Casino in Virginia generated its highest income of $14.8 million in December 2022. Hard Rock temporary casino opened on July 8, 2022, making it the first casino in Virginia.
According to the Virginia Lottery, the casino generated nearly $15 million from slot machines and table games. This included around $12 million from 870 slot machines and $2.7 million from 21 table games.
This was quite impressive because the casino had set a month-record of $11.44 million from slot machines in August 2022. Meanwhile, table games income was 22 percent more than November 2022 revenue.
The President of Hard Rock Hotel & Casino Bristol was happy about the new revenue results. Per Allie Evangelista noted that the increase in the revenue was a good sign that the temporary casino was growing. The president also said that the growth was evidence that the brand was doing an exceptional job, and the team provided a hospitable environment.
The State Earned 18 Percent in Taxes
The state requires casinos to pay an 18 percent tax on their gaming revenue. The money goes to different projects, including the Problem Gambling Treatment and Support Fund, the host locality, and the Family and Children’s Trust Fund.
Some of the money that goes to the casino`s host city is supposed to go to the Regional Improvement Commission. This commission is designed to expedite revenue-sharing in Southwest Virginia.
Bristol Casino generated $2.7 million in gaming taxes. Around $1.74 remained in the Gaming Proceeds Fund, while the remaining $892,742 went to the Regional Improvement Commission.
This amount will be divided among 14 localities in Southwest Virginia. The Family and Children’s Trust Fund will get a little over $5,000, while the Problem Treatment and Support Fund will get over $21,000.
The Regional Improvement Commission has received over 44.91 million since the temporary Bristol Casino launched. The commission is yet to distribute the money. When it does, each of the 14 localities will receive around $351,000.
Virginia decided to allow five cities to have casinos through a public referendum. Bristol was one of the four cities that voted to have a casino in 2020. In fact, it was the city with the highest number of voters that agreed to bring a casino to their town.
The city was also the first to launch a temporary casino through Hard Rock casino. It sits at the Belk store, where the former Bristol mall stood.
This casino occupies 30,000 square feet. It has 21 table games, 870 slot machines, and a sportsbook. The interim casino also has a smoking lounge, a restaurant, a sports bar, a VIP area, and a grab-and-go outlet.
This site will operate until the permanent Hard Rock casino launches. The construction of the permanent structure is already underway, having started in December.
The $400 project is being constructed from the ground up. It is scheduled to be completed by December 2024. It will sit on 100,000 square feet.
Hard Rock Bristol Casino will still have a retail sportsbook, an addition of over 75 table games, and around 2,700 slot machines. It will also have room to accommodate 20,000 guests, a 2,000-seat entertainment venue, four bars and lounges, five restaurants, Hard Rock Café, a hotel with 300 rooms, and an outdoor amphitheater.
Usually, operators close down temporary casinos once the permanent structure is ready. But, Hard Rock International does not intend to close the temporary Bristol casino. According to the brand`s chief, Jon Lucas, the temporary casino will continue running as part of the permanent facility.
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