Tuesday, June 18, 2024

Virginia Lottery Board Approves Casino Regulations. Here’s What’s Next for the Proposals

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STATEWIDE — More Virginia residents are going to have to know when to hold them and when to fold them as the state’s casino industry continues to grow.

The Virginia Lottery Board has approved a set of proposed regulations to help govern the growing industry.

According to a July 21 news release from the Virginia Lottery, there are several more steps before these regulations become law. The proposed regulations need a sign-off from Gov. Ralph Northam. Afterwards, there will be a public comment period, leading up to final approval by the lottery board.

The regulations build upon initial emergency casino regulations previously approved by the Board on February 3. The regulations are posted for viewing here by clicking the link, then selecting “Regulations,” then clicking “Proposed Permanent Regulations.”

“The Lottery’s Gaming Compliance Department and Office of General Counsel have been diligently working to set up the regulatory and licensing framework to ensure casino gaming in Virginia is secure and transparent,” said Virginia Lottery Executive Director Kevin Hall in a released statement. “In this role, we see the Lottery as the public’s watchdog, confirming that the law and regulations are followed, and the integrity of casino gambling is protected.”

There are four casino proposals in Bristol, Danville, Norfolk and Portsmouth after each of those cities approved the projects last November. A fifth casino has been proposed in Richmond and is expected to be on the ballot this November.

The application period for casino operators opened in April 2021. As materials are submitted, the Lottery will conduct a comprehensive review of each, which includes criminal history and financial review.

The Virginia General Assembly assigned regulatory oversight of expanded gaming in the Commonwealth to the Virginia Lottery in 2020. Expanded gaming is comprised of both land-based casinos and mobile sports wagering.

Lottery Board members on July 21 also received an update on mobile sports wagering, which launched in Virginia in late January 2021. There are ten approved permit holders to provide sports betting in the Commonwealth, with seven currently accepting wagers. For a list of those permit holders, click here and then click on the “Approvals” tab.

More information about sports betting and casino regulations can be viewed here.

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