However, if gaming continues at the same level, it will mean $29.5 million in taxes collected. The study also predicted the Bristol casino would generate $35 million in annual gaming tax revenues. The report states that the proposed Bristol Casino was expected to generate $130 million in total net gaming revenue per year. That number is more than was forecast in a 2019 study by the Joint Legislative Audit and Review Commission, which was undertaken prior to the state’s approval of casinos. If gaming continues at the level it has been for the first six months, it would mean nearly $164 million in adjusted gross revenues for the casino’s inaugural year. There were $14.75 million in taxes collected. 31, the casino posted $81.97 million in adjusted gross revenues, which is wagers minus winnings. If gaming continues at the same pace, the counties and cities are on track to receive more than $700,000 each for the casino’s first year.īetween July 8, when Bristol’s casino opened, and Dec. The two cities and 12 counties will each receive more than $351,000 for the first six months of operations, July to December, according to monthly reports from the Virginia Lottery, which oversees casino gaming in the state. Smyth County is one of 14 localities in far Southwest Virginia that will benefit from tax revenue from the Bristol Casino, which opened in July in a temporary facility but is expected to open as a full-fledged Hard Rock resort and casino next year.
