A bill that would allow the state to enter into the online gambling market is still up for consideration
Legislative action to legalize Virginia online casinos continues, with Senate Bill 827 still pending in the Committee on General Laws and Technology. If passed, the bill would be a major shift for the state by authorizing licensed online casino gaming for the first time.
It now permits land-based casinos and Internet sports wagering, both legalized in recent years. SB 827 would be an addition to that matrix by authorizing the Virginia Lottery Board to oversee online casino operations. The bill would license existing land-based casino owners, including Caesars Virginia, Hard Rock Bristol, Golden Eagle Corp, and Rivers Casino Portsmouth. Each license holder would be able to operate up to three online casino sites.
To apply, operators would have to pay an application fee of $1 million. Online casinos’ revenues would be taxed 15%, with 2.5% of the revenue going towards specific purposes in responsible gambling programs. The remaining proceeds of the tax would be allocated to the state general fund.
Unlike in some other states, Virginia’s bill includes regulating live dealer games, which shows the interest of players to have more interactive games. The law also places the Virginia Lottery Board in control of both online casino gaming and overall gambling activities, including sports betting.
Support for SB 827 is being linked to a number of reasons, including economic growth and the popularity of internet gambling in other states. Casino owners and lawmakers believe that the state will gain benefits from tax revenue, job creation, and the establishment of a modern gambling industry.
Virginia’s gaming industry has gained traction in recent years. New developments in Norfolk and Petersburg, along with strong public support for further development, show that there is space for growth. With public opinion shifting and the online gaming industry expanding up and down the country, SB 827 may discover that it has sufficient support to push forward and possibly revolutionize the state’s gaming industry.
