BRISTOL, Va. (WJHL) – The Bristol Casino released its adjusted gross revenue (AGR) for January, showing a somewhat less successful month than December.
Hard Rock Bristol reported slots at the casino made up the bulk of profits in January at about $10.6 million. Table games followed at about $2.79 million.
In total, the AGR totaled $13,434,546.28 for the month of January. In December, the Bristol Casino generated just shy of $15 million.
Revenue reports state the casino generated more than $1.4 million in taxes in January. Hard Rock Bristol also included a note that as a result of periodic reviews, the tax payment for January was adjusted to “reflect a credit for overpayments related to gaming revenues taxed from July – December, 2022.”
Under state law, casinos are required to dedicate a portion of the AGR to local governments. For the Bristol Casino that means giving 6% of the total AGR to the Regional Improvement Commission (RIC), which benefits localities across Southwest Virginia. January’s total dedication to the RIC amounted to $467,918.75, but that was much lower than the norm due to the credit.
December’s casino operations generated almost $900,000 for the RIC and it has now brought in almost $5.4 million in seven months.
Other tax dedications for January included $11,230.05 to the Problem Gambling Treatment and Support Fund, as well as $2,807.51 to the Family and Children’s Trust Fund.
January had the second-lowest average daily AGR since the casino opened in January, at $433,372. The lowest month was November with an average of $421,679 a day while December was the highest full month — $479,969 a day.