Virginia’s Bristol Casino Gets Largest Revenue Ever in March 2024
Bristol Casino, a temporary gambling venue in Virginia, has reported its new financial record achieved in March 2024. The property’s adjusted gross income hit $16.3 million, up 9% from the previous monthly high; the figure also increased by 18% compared to March 2023.
Financial growth was observed in two main categories: income from slot machines for the first time exceeded $13 million, and table games also showed a significant increase in revenue, totaling more than $3.2 million.
The March figure was 19% higher than the average monthly income for almost two years of operation of the temporary casino. The venue has been operating since July 8, 2022, and will continue to welcome visitors until the completion of the Hard Rock Casino Bristol project in July of this year.
Initially, the construction cost of the upcoming casino was estimated at $300 million; however, later the figure increased, and now the project is expected to cost more than $550 million.
Hard Rock Casino Bristol will house 2,700 slot machines, 100 table games and a sportsbook. A hotel with 750 rooms, a concert hall with a capacity of 3,200 seats and an open-air entertainment center are also included in this project.
The significant increase in Bristol Casino’s revenue resulted in a $976,206 paid to the Regional Improvement Commission (RIC). It represents more than a dozen local governments in Southwest Virginia and receives one-third of casino taxes. These funds are allocated to improve infrastructure, transportation, education, and public safety in RIC counties, including the cities of Bristol and Norton. The total amount distributed among these districts has already exceeded $16.7 million.
In other news, Genting will pay NY 1 billion in taxes if it is granted a casino license.
