Virginia Considers Consolidated Regulatory Body as Gambling Grows

Gambling legislation in the US has been a long and at times incoherent process. While some verticals have been legal for decades, others are getting greenlit just now. As the industry grows, the state of Virginia is considering a consolidation of its regulatory framework.

Virginia Mulls over the Creation of a Gaming Commission  

Virginia, which allows both older and newer forms of gaming, has considered the creation of a Virginia Gaming Commission, mirroring other states’ approach.

The creation of the VGC was first proposed in 2022 when a study outlined the need for such a body. Following that, the state onboarded the consultancy Guidehouse to explore opportunities for creating this commission.

According to the final bill, the new body would have a consolidated responsibility for all gambling but the Virginia Lottery. Lawmakers argued that the lottery should remain separate at least for the time being. In addition to that, the state plans to keep the executive committees for horse racing and charitable gaming, allowing the current Horse Racing Commission to handle industry issues unrelated to gambling.

In the meantime, the VGC would be responsible for regulating the sector, identifying and reporting violations and proposing legal changes to the framework.

Gov. Youngkin Wants a World-Class Regulator for Virginia

The creation of the VGC is supported by Governor Glenn Youngkin who hopes that it will come as soon as possible. In a recent address, he urged other lawmakers to focus on making the VGC real and turning it into a world-class regulator.

In the meantime, Guardhouse’s Brad Hood responded to enforcement queries, saying that the VGC would be more focused on compliance but it would be up to local police departments to enforce the rules.

The Senate version of the bill, for context, had its first hearing two days ago.

Virginia Considers Petersburg Casino Tax Distributor

Speaking of the creation of regulatory bodies in Virginia, Delegate Mike Cherry submitted a new bill that could change how the casino taxes in Petersburg are distributed. Cherry, who was among the main promoters of a casino referendum in the city, submitted House Bill 2232, which would create the so-called Tri-Cities Improvement Commission.

The T-CIC would include representatives from Petersburg, Hopewell, and Colonial Heights, as well as Dinwiddie County and Prince George County and will be tasked with distributing the city’s share of casino taxes for the needs of the community.

Virginia, for context, takes an 18-30% cut of casino revenue, depending on a property’s financial performance. Usually, 6% of the taxed sum stays in the city hosting the casino.