Virginia sports betting handle rises in February
The handle increased 3.2 per cent year-over-year.
US.- The Virginia Lottery has released its report on sports wagering activity for February. The handle totalled $574.6m, up 3.2 per cent year-over-year but down from January ($687.9m).
Adjusted gross revenue (AGR) was $53.8m. Mobile operators reported $53.5m and retail $344,924. Winnings totalled $517.5m with a combined 9.93 per cent operators’ win percentage. Of the twelve mobile operators and three casinos, ten reported net positive AGR, leading to $8.1m in tax payments.
Casino revenue was $95.2m in February, an increase of 26.7 per cent year-on-year. Slots generated $70.2m and table games $24.4m. The state collected $17.1m in taxes for the Gaming Proceeds Fund.
No advances on Virginia online casino bills
Virginia’s legislative session closed in March with no agreement on a final version of proposed online casino legislation. Two bills, House Bill 161 and Senate Bill 118, differed on the allocation of tax revenue and stalled in a conference committee. The proposals may be reintroduced in a future session.
The House of Delegates approved HB 161 in February, a day after the Senate passed SB 118 but the houses needed to agree on a final version. Both bills proposed the legalisation and regulation of online gaming under the supervision of the Virginia Lottery Board. Existing casino operators would pay $2m for a licence while online-only operators would pay an initial licensing fee of $500,000.
