The Virginia Lottery announced on Friday that revenue for Danville Casino grew in December, reaching $19.74 million. This amount represents a jump of 12%, or about $2 million, compared to the $17.5 million collected in November, marking a financial recovery after a three-month decline in profits.
Since its opening on May 15th, 2023, the Danville Casino has generated a total of $145 million in gaming revenues. July remains the month with the highest revenue for the temporary facility thus far, at $21.4 million.
The city of Danville will benefit from at least $1.18 million in tax revenue from the December figures. However, an arrangement with Caesars Virginia means the city gets 2.5% of the company’s gaming revenue up to $200 million. The direct payments are in addition to the gaming tax revenue generated, which amounted to $9 million in payments over the seven months of the temporary operation.
The temporary casino features 808 slot machines and 81 gaming tables, and is located in a large white tent-like structure in the Schoolfield area. Meanwhile, the permanent resort is under construction, with an opening scheduled for the end of the year.
Caesars Virginia hasn’t offered construction updates as of late, but a topping-off ceremony for the hotel project is planned for Thursday, with anticipated remarks from company executives that day.
The approval of the Caesars project by Danville voters took place in November 2020, and the casino license was formally granted by the Virginia Lottery Board in April of last year.
Caesars Virginia Casino rendering
Danville is among the three operating casinos in the state of Virginia. In December, gaming properties in the state generated a collected $58.5 million in revenue. Danville Casino outperformed the Bristol casino in profits ($14.92 million) but was behind Rivers Casino Portsmouth, which collected $23.85 million.
Bristol’s casino has also been operating as a temporary facility at the former Bristol Mall since July 8, 2020. Meanwhile, the casino in Portsmouth opened a year ago in January 2023, as a permanent casino.
The permanent Danville casino will have about 1,400 slot machines and table games. Currently, approximately 400 people work at the casino, which can accommodate about 3,000 people at the same time.
The permanent casino project, valued at $650 million, will include 1,300 slot machines, 85 live gaming tables, and 24 electronic table games. The planned resort will also offer a range of amenities, including a spa, pool, bars, restaurants, and an entertainment theater with a capacity for 2,500 spectators. Additionally, the project will include 40,000 square feet of space for meetings and conventions.
Original article: https://www.yogonet.com/international/noticias/2024/01/16/70409-virginia-danville-casino-sees-revenue-surge-in-december-after-threemonth-decline-in-profits
