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Danville City Council OKs changes to casino agreement
The Virginia Lottery released revenue figures for Danville Casino from the month of May, showing a slight increase from April and reflecting one of the strongest-performing months for the gambling facility.
The casino pulled in nearly $20.3 million in gaming revenue last month, according to the Virginia Lottery’s monthly casino activity report released Friday.
Of that figure, about $14.7 million came from Danville Casino’s 824 slots and about $5.57 million was generated by the facility’s 36 table games.
May’s $20.3 million was an increase over April’s $19.73 million in revenue, making May’s performance the third-highest month for the temporary casino that is expected to become a full resort at the end of 2024.
April’s figures were the fourth-highest for Danville Casino, while March marked the second-highest for the facility at $21.08 million.
Danville Casino generated nearly $20.3 million in gaming revenue in May, marking the third-highest month for the temporary casino since it began operating May 15, 2023.
Last July saw the most money rang up by the casino, when it generated $21.4 million in gaming revenue.
Revenue fluctuates each month. The lowest of full-month figures was $16.84 million in October.
Danville will receive $1.2 million from the state for its share of gaming taxes from the casino for the month of May. However, through an agreement with Caesars Virginia — the overall casino operator — the city also will receive a direct payment for last month’s revenue.
Direct payments come from the contract where the city gets 2.5% of adjusted gross receipts — gross receipts less winnings paid to customers — up to $200 million per year. There are higher percentages as revenues grow.
Bristol Casino brought in $15.46 million in May, with 891 slots and 29 table games. Bristol also has a temporary facility while construction continues on its full property.
Danville had consistently beaten its counterpart in Bristol. Rivers Casino in Portsmouth, however, leads the three operations in the state. The latter generated nearly $27 million in gaming revenue last month, with 1,411 slots and 83 table games.
That casino also has dining and entertainment options, along with meeting space.
The full Caesars Virginia casino is being constructed on what used to be known as the Schoolfield Mill site, part of Dan River Inc.’s textile empire in Danville.
Caesars is investing $750 million in the full resort that includes a hotel, substantially higher than the original $400 million in its 2020 agreement with Danville. However, the promised 1,300 jobs in the same 2020 contract has since been lowered. Danville City Council on May 7 approved a revised agreement that puts the employment figure at 900 to 1,300.
The Virginia Lottery is the agency with oversight for the casinos.
John R. Crane (434) 791-7987
jcrane@registerbee.com
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Danville City Council OKs changes to casino agreement
Danville Casino generated nearly $20.3 million in gaming revenue in May, marking the third-highest month for the temporary casino since it began operating May 15, 2023.
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