In Virginia, the temporary Bristol Casino, the future home of Hard Rock Bristol, opened July 8. The state’s Joint Legislative Audit had forecast it would generate $130 million in net gaming revenue and $35 million in gaming tax revenue in its first year of operation. But according to the Virginia Lottery, the casino is on track to bring in net revenue of more than $171 million in its first year. The temporary casino also generated $14.3 million in adjusted gross revenue in September alone, or $447,000 per day.
And since it opened, the casino has produced $40.3 million in adjusted gross revenue. “And that doesn’t include the sports book, which is available right now, too,” said Bristol Economic Development Specialist Mack Chapman. “It’s actually kind of crazy, the numbers it’s pulling. If the trend continues unchanged, it will actually exceed what the Joint Legislative Audit forecasted for the fully developed casino in 2025.”
In addition, in less than three months of operation, the temporary Bristol casino brought in $2.41 million in gaming tax revenue, which will be distributed among 12 counties and two cities for education, transportation and public safety. And it created more than 600 jobs in Bristol, which has a population of 17,000 people.
Another benefit of the temporary casino is its impact on tourism, Chapman said. “We’ve actually had visitors from 49 states already. The only state that hasn’t been here is Alaska,” he noted. The Hard Rock loyalty program tracks visitation.
One hundred ninety-two miles east of Bristol, the city of Danville is expected to have its own temporary casino, Caesars Virginia, next year, followed by the permanent casino in 2024. The JLARC study indicated the permanent Danville casino would generate $190 million in net gaming revenue and $51 million in gaming tax revenue, plus create 900 construction jobs and 1,300 permanent jobs.
Danville City Manager Ken Larking said city personnel have been working with Caesars on traffic studies and other plans to prepare for the increased tourism the casino will bring. He said, “Luckily, we’ve been preparing for that. We’re trying to get all our ducks in a row when it comes to welcoming people into Danville and showing them what else is available.”
Meanwhile, Caesars Virginia has donated $504,000 to Averett University to develop a program in hospitality and tourism. Caesars Virginia General Manager Chris Albrecht said the program will offer courses including Introduction to the Hospitality and Tourism Industry, Lodging Operations and Food and Beverage Management, with electives such as Casino, Resort and Club Management and Facility Design. Local hospitality partners will offer student internships. The program will be offered in fall 2023.
On the east coast of Virginia, the state Lottery Board recently unanimously approved the casino operator’s license for the $340 million Rivers Casino Portsmouth. Virginia Lottery Executive Director Kelly T. Gee said, “The lottery’s gaming compliance department and legal counsel assisted in today’s decision by conducting investigations and background checks on the applicants. The lottery works with all casino applicants, their vendors and employees to make sure all aspects of the operation are in strict compliance with Virginia law.”
Rivers Casino Portsmouth is expected to open in Hampton Roads in early 2023, with 1,448 slots, 57 table games and 24 poker tables, plus five restaurants/bars and banquet and event space. General Manager Roy Corby said 147 people have already graduated from dealer academy and another 347 are enrolled. More than half of the recent hires are minorities, Corby said, adding that owner Rush Street Gaming plans to hire 1,300 permanent employees.
