Virginia is exploring the development of a Virginia Gaming Commission, which will regulate all kinds of gaming save the lottery.
Gambling law in the United States has been a lengthy and at times confused process. While some verticals have been legal for decades, others have only recently received approval.
As the business flourishes, the state of Virginia is considering consolidating its regulatory structure.
Virginia considers creating a gaming commission
Virginia, which allows both traditional and modern types of gaming, has proposed establishing a Virginia Gaming Commission, mimicking other states’ approaches.
The VGC was first proposed in 2022, after a research identified the necessity for such a body.
Following that, the state hired the consultancy Guidehouse to look into the possibility of creating this commission.
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According to the final measure, the new organization would have centralized authority over all gambling except the Virginia Lottery. Lawmakers contended that the lottery should remain distinct, at least for the time being.
In addition, the state intends to maintain the executive committees for horse racing and charitable gaming, allowing the present Horse Racing Commission to manage industry matters unrelated to gambling.
Meanwhile, the VGC would regulate the industry, identify and report problems, and propose legal changes to the system.
Governor Youngkin seeks a world-class regulator for Virginia
Governor Glenn Youngkin supports the development of the VGC and expects that it will be implemented as quickly as possible. In a recent speech, he urged other politicians to focus on establishing the VGC and transforming it into a world-class regulator.
Meanwhile, Guardhouse’s Brad Hood reacted to questions about enforcement, saying that the VGC will focus on compliance but that local police departments would be responsible for enforcing the laws.
The Senate version of the bill, for context, saw its first hearing two days ago.
Virginia Considers Petersburg Casino Tax Distributor
In terms of establishing regulating bodies in Virginia, Delegate Mike Cherry introduced a new bill that could alter how Petersburg’s casino taxes are allocated. Cherry, who was a key advocate for a casino vote in the city, introduced House Bill 2232, which would establish the so-called Tri-Cities Improvement Commission.
The T-CIC would be made up of delegates from Petersburg, Hopewell, and Colonial Heights, as well as Dinwiddie County and Prince George County, and would be in charge of allocating the city’s share of casino taxes to meet community needs.
Virginia, for example, receives 18-30% of casino earnings, depending on the property’s financial performance. Typically, 6% of the taxable amount remains in the city hosting the casino.
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