Bristol Casino continues to exceed revenue expectations

That first-year revenue figure is 25% higher than the $130 million estimated in the original 2020 Virginia Joint Legislative Audit and Review Commission study, which preceded casino gaming approval by the General Assembly

And the original figure was projected for 2025 — when the full Hard Rock casino resort facility was in operation — not the smaller, temporary facility.

On Friday, the Virginia Lottery released its statement of June activities for Bristol and two other casinos, showing $52 million in combined gaming revenues for the month. In addition, the three facilities — Bristol, Rivers Casino Portsmouth and the temporary Caesars Virginia in Danville — generated a combined $9.4 million in gaming tax revenues for the state and host localities.

The Bristol Casino, a temporary space of about 20,000 square feet, completed its first year with $12.7 million in total gaming revenues for the month of June. That includes more than $10.4 million from its 928 slots and $2.28 million from its 29 table games, according to the lottery report.

For the year, the Bristol Casino reported more than $133 million in AGR from slots and $29.3 million from table games.

On Wednesday, Hard Rock Bristol CEO Allie Evangelista told the Virginia Lottery Board meeting that the temporary Bristol facility had paid out more than $103 million in jackpots from its slots and table games during the first year of operation.

The property reported 1.2 million visitors and more than 2,000 hotel room nights for guests who stayed at local hotels, she told the Lottery Board.

The facility presently employs about 600, and about half of them have been on the job since opening day, Evangelista told the Lottery Board during its Wednesday meeting. There are presently about 20 open positions.

Hiring is expected to ramp up in 2024, in preparation for the hotel, permanent casino and related amenities expected to open next summer. The facility is expected to employ about 1,200 at that time.

Hard Rock has paid out more than $18 million in wages and benefits to its employees, Evangelista said. Due to increases by the company last year, starting wages are $18 per hour.

For the year, the casino averaged $13.55 million per month in adjusted gaming revenue, or over $445,500 per day. During five of the 12 months the casino reported over $14 million in gaming revenues.

Virginia charges an 18% tax on the first $200 million of adjusted gaming revenue reported by a casino and in 12 months Bristol paid out more than $28.2 million in taxes, including $9.4 million to the Regional Improvement Commission.

Elsewhere around the state, Rivers Casino Portsmouth reported $20.5 million in adjusted gaming revenue as its monthly totals continued a trend of declining every month since opening in January.

It was followed closely by nearly $19 million generated by the Danville facility, which has 768 slots and 25 table games and generated nearly $12 million in its first two weeks of operation back in May, the lottery reported.