Danville Casino brings in nearly $19M in June revenue; city collects $2.5M in taxes so far
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Danville Casino rang up nearly $19 million in gaming revenue for the month of June, according to the latest casino gaming activity report from the Virginia Lottery.
That’s after pulling in almost $12 million the last half of May from May 15 to May 31. That means the casino has racked up a total of around $31 million in gaming revenue the last six weeks or so of the 2022-23 fiscal year through June 30.
From May 15 to the end of June, the city has collected about $1.8 million in gaming-tax revenue from the casino, in addition to $771,523 in direct payments to the city as part an agreement with Caesars Virginia, said Danville Finance Director Michael Adkins. That’s a total of more than $2.5 million for the city so far.
Through the state’s tax structure, the casino pays an 18% tax rate on its first $200 million in gaming revenue to the state. A third of that tax comes back to Danville, Adkins said.
The casino’s tax rate will increase after the first $200 million, he said.
For the month of June, Danville Casino paid about $3.4 million in gaming taxes to the state, with about $1.1 million of that to be disbursed to Danville, according to the report.
Of Danville Casino’s $18.9 million in gaming revenue last month, nearly $14.4 million was generated from slots and the remaining $4.5 million came from table games, according to the Virginia Lottery’s report.
The casino has 768 slots and 25 table games.
Danville voters approved a Caesars Virginia casino in Danville by a wide margin in November 2020. The permanent Caesars Virginia casino resort project in Schoolfield is expected to be complete in late 2024.
HR Bristol casino brought in about $12.7 million in gaming revenue, while Rivers Casino Portsmouth generated about $20.5 million, according to the Virginia Lottery.
All three casinos had a total of nearly $52.2 million in gaming revenue, generating nearly $9.4 million in gaming tax.
The Virginia Lottery Board approved the casino license for the HR Bristol casino in April 2022, and the temporary facility on the site of the former Bristol Mall opened to the public on July 8, 2022.
The board approved the casino license for Rivers Casino Portsmouth in November 2022 and the casino opened to the public Jan. 23.
