According to the August 2022 Virginia casino report, Bristol Casino – Future Home of Hard Rock achieved an impressive milestone, generating a record-breaking revenue of $14.3 million.
On Thursday, the latest numbers were unveiled by Virginia Lottery officials, highlighting that Bristol Casino continues to be the sole casino operating in Virginia. However, this is expected to change in the near future.
Currently, Hard Rock authorities have established a temporary gaming space within a former Belk department store located at Bristol Mall. Eventually, the entire mall will be transformed into the magnificent Hard Rock Hotel & Casino Bristol. Situated precisely on the border of Virginia and Tennessee, the city boasts a unique location.
The permanent casino, estimated to cost $500 million, will showcase:
- The hotel boasts a total of 700 rooms.
- 20,000-seat, outdoor live-music venue
- 3,200-seat amphitheater
- retail shops
- spa
- pool
In Bristol, Virginia, the casino patrons commenced their betting activities on July 8. Within the span of three weeks in July, the establishment managed to accumulate an impressive $11.7 million in revenue.
Revenue up 22% in August
In August, the collected amount reached $14.3 million, marking a 22% increase compared to the total collected in July.
The revenue total from Bristol was once again dominated by slot machines. The casino experienced an increase in the number of machines, going from 870 to 891, during the period from the end of July to the end of August.
Slot machine revenue
- July — $10.2 million
- August — $11.4 million
Table game revenue
- July — $1.5 million
- August — $2.8 million
August 2022 Virginia Casino haul adds $2.8 million to tax base
In total, the state received $2.8 million in tax revenue from the casino.
- A total of $857,000 (6%) has been allocated to a regional commission, which possesses the authority to direct these funds towards initiatives related to education transportation and public safety.
- An additional $20,562 (0.8%) is allocated by the state towards gambling treatment programs.
- The state allocates $5,141 (0.2%) to the Family and Children’s Trust Fund, which is dedicated to addressing and preventing family violence.
More Virginia casino revenue ahead
Virginia has the potential to witness the establishment of casinos in a maximum of five cities. While the expenses may vary, the cumulative investments for these casino projects are expected to exceed $2.5 billion in Virginia.
Let’s take a glimpse at the remaining four plans:
- The Rivers Portsmouth Casino Resort is set to become the inaugural permanent casino, with a budget of $300 million.
- HeadWaters Resort and Casino in Norfolk plans to commence operations with a temporary casino before the grand opening, involving an investment of $500 million.
- If approved in 2025, a single Resort + Casino in Richmond could cost $565 million.
- Caesars Virginia Casino has commenced construction in Danville, marking a significant milestone for the city with an investment of $650 million.
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