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In its first three months of operation, the Hard Rock Casino in Bristol has generated over $2.4 million for regional funding. These funds education, transportation and public safety across Southwest Virginia.
In total, the Bristol casino has generated $40.3 million in gross gaming revenue, translating to $7.3 million in state taxes.
Hard Rock’s Bristol location is temporary. Eventually, it will become Hard Rock Hotel & Casino Bristol once construction on the permanent site is complete.
Four casinos in Virginia are under construction, but Bristol is the only one taking bets in Virginia for now.
First 3 months at Hard Rock Casino Bristol
So far, Hard Rock has produced consistent revenue numbers since it opened on July 8.
- July – $11,717,478
- August – $14,279,379
- September – $14,305,177
Virginia casino revenue is taxed at 18%. And 6% goes to commissions representing 12 Southwest Virginia counties and two cities.
According to data submitted to the Virginia Gaming Commission, slot machines are still the big revenue generator for Bristol.
Slot machine revenue:
- July — $10.2 million
- August — $11.4 million
- September — $11.3 million
Table game revenue:
- July — $1.5 million
- August — $2.8 million
- September — $3 million
Before legalizing casinos in the state, Virginia’s t Audit & Review Commission estimated net gaming revenue of $130 million for the Bristol casino. Should numbers stay consistent, the casino should make roughly $173 million in adjusted gross revenue by its first anniversary.
Other Virginia casinos are in the works
As mentioned, four casinos are coming to the state. A fifth casino planned for Richmond failed to gather community .
However, ers plan to try again in 2023. Experts foresee nearby Petersburg as a winning location for the fifth and final casino.
The five casinos are:
- Rivers Portsmouth Casino Resort – $300 million plan
- Hard Rock Hotel & Casino Bristol – $400 million plan
- HeadWaters Resort and Casino in Norfolk – $500 million plan
- Caesars Virginia Casino – $650 million plan
- One Resort + Casino in Richmond – $565 million plan (if approved in 2023)
