Virginia ready to debate its gambling expansion
Sports betting and casinos may arrive in Virginia soon as lawmakers are ready to take on a gambling expansion debate in the starting session.
US.- The industry continues to evolve in the US and more and more states are changing their regulations. That’s why Virginia is soon to take on a gambling expansion debate, as the 2020 legislative session kicks off.
State lawmakers will most likely legalise casino gaming, as the state is one of the few that forbids the segment.
“It’s a no-brainer,” state Sen. Louise Lucas said, as it seems to be a matter of when and how, and not if they’ll legalise casinos.
The segment already has many advocates, including Jim McGlothlin, a coal industrialist who wants to build a Hard Rock casino and resort in Bristol. In addition, the Pamunkey Indian Tribe, which is eyeing a potential venue in Richmond or Norfolk.
Revenue generator
The Virginia Joint Legislative Audit and Review Commission conducted an impact assessment of its legislation.
The commission forecasted Virginia casinos to contribute with US$262 million in taxes per year. It also assured sports betting may transfer US$55 million in taxes once it reaches maturity.
Despite its praise for the revenue-generating industry, the commission issued some warnings about it. They said there’s a lack of problem gambling support in the state which must be urgently addressed.
Another US$84 million may flow into state coffers from online casino gaming. It would be strictly related to land-based venues.
