I purchased one of these reels last fall and I can’t get any casting distance on any sized bait. Is there anything special I have to do to dial this reel in to get casting distance? I have 40 pound power pro on it. 

Only use one of the centrifugal brakes (the internal brake), crank the magnetic brake all the way to zero, and fine tune your spool tension knob, and watch your lure fly. It takes a while to get it tuned in just right. If you add more than one centrifugal brake your casting distance goes to nothing. If you don’t use them, it seems you’ll backlash no matter what you do with the other brakes. 
 

Hope this helps. 

5 hours ago, BassSam5 said:

I purchased one of these reels last fall and I can’t get any casting distance on any sized bait. Is there anything special I have to do to dial this reel in to get casting distance? I have 40 pound power pro on it. 

I would try cleaning it real well. I've had 3 of these and they were all severely over greased at the factory, literally grease everywhere. Don't know if that is the same problem that you have, but cleaning the excess grease out helped mine.

I don't have that reel or any Gen4 Revo, but I think that has the dual braking system that my Gen3 Revo SX didn't.  Like most reels, you'll do best with the spool tension knob adjusted so that the spool just barely 'shakes' (best word I have for this).  With new reels with dual braking system, I sort of start 'in the middle' (halfway on the magnetic and half of the centrifugal engaged) and work from there.  That usually means quite a bit less brakes of both types.  The other thing I do with new reels is to clean the spool bearings.  I use isopropanol (rubbing alcohol), but you can use lighter fluid or acetone too.  After the bearings dry, I put on 1 drop of oil for spool bearings.  A lot of times the bearings are dry, packed with grease, or over-oiled, all of which can affect casting distance.

I would definitely open it up and make sure all the centrifugal brakes are not turned on.