In November 2022, the sole casino operating in Virginia experienced a 10.6% decline in revenue compared to the previous month of October.
On Thursday, the Virginia Lottery released the latest audit of Bristol Casino, which will soon be known as the Future Home of Hard Rock bets. According to the report, Hard Rock’s Bristol Casino generated over $12.6 million in adjusted gross revenue (AGR) for the state in November.
The addition of Rivers Casino Portsmouth, set to open on January 15th, will soon contribute to the cumulative figures that include those from the temporary casino in Bristol.
The revenue generated by Bristol Casino thus far is…
- July had an opening on July 8 and generated a revenue of $11,717,478.
- August — $14,279,379
- September — $14,305,177
- October — $14,144,160
- November (new) — $12,650,361
- Total — $67,096,555
The AGR calculates casino bets after deducting customer winnings and accounting for the state’s 18% tax assessment.
In total, there are four cities that have been given permission to establish a Virginia casino. Both Danville and Norfolk plan to set up temporary casinos, alongside Bristol and Portsmouth, thus expanding the options for gambling enthusiasts.
In Virginia, there are currently 13 available online sports betting platforms, however, the state does not offer legal online casino gambling. Those seeking to play poker or try their luck on a slot machine must visit Bristol in person.
Slots, table games both dip in November 2022 Virginia casino report
Compared to October, there was a decline in revenue for both slot machines and table games at the Bristol casino. It is evident that visitors to the casino continue to show a strong preference for slots over table games.
Slot revenue
- July — $10.2 million
- August — $11.4 million
- September — $11.3 million
- October — $11.2 million
- November — $10.4 million
Table game revenue
- July — $1.5 million
- August — $2.8 million
- September — $3 million
- October — $2.9 million
- November — $2.2 million
In total, the state received nearly $2.3 million in taxes from the casino.
- A sum of $759,022 (6%) has been allocated to a regional commission, which possesses the authority to direct these funds towards areas such as education transportation and public safety.
- In November 2022, the state allocated $18,217, which accounts for 0.8% of the total, towards gambling treatment programs.
- In conclusion, a sum of $4,554 is allocated by the state to the Family and Children’s Trust Fund, which corresponds to 0.2% of the total amount. This fund specifically prioritizes the efforts towards addressing and preventing family violence.
Virginia law mandates that betting revenue specifically contribute to the K-12 education program, resulting in just under $1.5 million being allocated to the Gaming Proceeds Fund.
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