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Virginia Lottery releases September casino numbers14 October 2022(PRESS RELEASE) -- Today, the Virginia Lottery released its report on casino gaming activity for the month of September 2022. All activity is from HR Bristol. During September, HR Bristol generated over $14 million in Adjusted Gross Revenues (AGR) from slots and table games. Virginia law assesses a graduated tax on a casino’s AGR, or wagers minus winnings, and an 18% tax assessment generated over $2.5 million in taxes paid to the Gaming Proceeds Fund for the month’s activity. The Virginia Lottery Board approved the casino license for HR Bristol in April 2022, and the temporary facility on the site of the former Bristol Mall opened to the public on 8 July. Slots September 2022: 870 AGR: $11,320,238.30 Table Games September 2022: 21 AGR: $2,984, 938.75 Total September 2022: 891 AGR: $14,305,177.05 Of the state tax on casino AGR, the statute specifies distributions to the Problem Gambling Treatment and Support Fund, the Family and Children’s Trust Fund, and the host locality. For the Bristol casino, statute specifies the portion of taxes reserved for the host locality go to the Regional Improvement Commission. The timing of the distributions varies, but the allocation of the monthly taxes from the casino activity is as follows: Monthly Taxes Total Tax: $2,574,931.87 Regional Improvement Commission (6% of AGR): $858,310.62 Problem Gambling Treatment and Support Fund (0.8% of total tax): $20,599.45 Family and Children’s Trust Fund (0.2% of total tax): $5,149.86 Remaining available in the Gaming Proceeds Fund: $1,690,871.94
Virginia Lottery releases September casino numbers
is republished from Online.CasinoCity.com.
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