Casino Gross Revenue Earnings as of December 31, 2021 (1).docx

Collection: Executive Agency Records
Sub-shelf: casinocontrolcommission.vi (Internet Archive recovery)
Kind: Government Report
Island: St. Croix
Date: 2016-05-06
Topics: Disaster Recovery
Pages: 2
Text: Native Text

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Virgin Islands Casino Control Commission 3005 Orange Grove Christiansted, VI 00820-3005 (340) 718-3616 ext. 240 • (340) 718-3136 fax info@casinocontrolcommission.vi Total Annual Gross Earning for VIGL Operations (Caravelle Casino) *April – December 2016 $2,985,174 January – December 2017 $5,533,332 January – December 2018 $8,978,204 January – December 2019 $10,385,466 January – December 2020 $4,451,218 January – December 2021 $6,662,230 *VIGL, Caravelle Casino, commenced operation in April 2016. DIVI TRAXCO January – December 2012 $19,383,654 $4,785,276.00 January – December 2013 $16,610,915 $4,394,530.00 January – December 2014 $15,081,816 $4,080,018.00 January – December 2015 $15,083,157 $3,595,687.00 January – December 2016 $12,024,204 *$1,251,999.00 January – December2017 **$ 7,662,742 January – December 2018 $ 4,139,403 January – December 2019 $12,075,484 ***January – December 2020 $ 6,852,059 January – December 2021 $11,903,296 Virgin Islands Casino Control Commission Henry E. Schjang – Special Assistant * TRAXCO ended operations on May 6, 2016 **On September 20, 2017 Hurricane Maria caused Divi Carina Bay Casino to close due to significant damages to the casino. DIVI reopened in September 2018. *** Due to the pandemic, Governor Bryan ordered all casinos closed from March 21 to June 9, 2021 and from July 10 to September 15, 2021. “Gross revenue”, as defined by the Casino Act — The total of all sums, including checks received by a casino licensee pursuant to section 457 of this title, whether collected or not, actually received by a casino licensee from gaming operations, less only the total of all sums paid out as winnings to patrons and a deduction for uncollectible gaming receivables. The deduction for uncollectible gaming receivables shall not exceed the lesser of: (1) a reasonable provision for uncollectible patron checks received from gaming operations; or (2) four percent (4%) of the total of all sums including checks, whether collected or not, less than the amount paid out as winnings to patrons. Gross revenue shall not include any amount received by a casino from casino simulcasting. For the purpose of this definition, any check which is invalid and unenforceable pursuant to subsection (f) of section 457 of this title, shall be treated as cash received by the casino licensee from gaming operations. Casinos Annual Gross Revenue Earnings 1/24/22