3D Model of Hard Rock Bristol Unveiled For Public View

Hard Rock International Logo
Officials of the proposed Hard Rock Hotel & Casino in Bristol unveiled to the public on Thursday the architectural 3D model of the project which will be built on the former Bristol Mall property. The model will be on display to the public at the former Bristol Mall from September 17-19, 2020.

The project is being spearheaded by local business leaders led by Jim McGlothlin, CEO of The United Co. and Clyde Stacy, the president of Par Ventures and owner of the 46 acre property where the proposed casino and hotel will be built. Florida-based Hard Rock who will manage the facility.

More Than Just A Casino

According to Hard Rock International Senior Vice President of Business and Casino Development Sean Caffrey said that the project will cost upwards of $350M. He emphasized that the development is more than just a casino. As the 3D model revealed, there is a hotel with a rooftop bar and a cabana flanked resort pool.

Seven restaurants and four bars are being planned for the project. Retail shops will also be an attraction while there are other areas like a sports betting shop, golf simulators, and a racing facility for children.

The other side of the property is a huge concert venue for big-name acts. Caffrey said that they’re thinking of something like the Hard Rock Live concept which would have a 3,200-seat capacity for indoor entertainment with a dual-sided stage that opens up to an amphitheater which can accommodate 20,000 people in an outdoor setting

Perk Up The Economy

Before it can be built, the project has to be approved by a public referendum on November 3rd. If the project is approved after the November 3 vote, licensing will follow and that is expected to take three to six months to complete. Once it has obtained a license, the project could take up to two years to complete. Caffrey noted however that entertainment and dining options could be offered at a temporary facility after 90 to 100 days after the licensing period.

The Hard Rock project comes to Bristol at a time when the economy is bleeding due to the COVID-19 pandemic. While the long-term benefits, including a $15M annual tax revenues for Bristol, won’t be there until the project is completed, the construction will help perk up the local economy. Construction costs are expected to directly impact up to $20M to the city and it’s going to provide 2,000 direct jobs as well.

Virgnia’s “Sports Bettor Bill of Rights” Draws Flak From Major Operators

Virginia Sign

The public comment period on the proposed rules and regulations of sports betting in Virginia ended last Wednesday and some of the initial policies have received opposition from major gambling operators.

During the review process, major platforms like DraftKings and FanDuel have taken issue with some of the consumer protection rules that officials are proposing. One particular regulation that has received negative feedback is the one that requires the betting platforms to provide players with information that can help them make “informed decisions about their gambling”. These information include how the odds were calculated, odds of winning a bet, and the handle and payout amounts.

Other Issues That Drew Negative Reactions

According to the gambling operators, no other sports betting state in the United States has imposed a similar requirement. FanDuel in particular, noted that it recently offered 24 different bets on an NBA playoff game and that had nearly 300 potential outcomes and even more possible parlay wagers. Presenting the required information under Virginia’s proposed Sports Bettors Bill of Rights in real time will cause logistical problems on both processing power and screen space.

Other issues that drew negative reactions include the process of allowing players voluntarily ban themselves from sports betting for two years, five years, or for life if they feel they are losing too much money or if they feel they are getting addicted to gambling. The regulations also requires gambling operators to submit all marketing and advertising materials to the Lottery for pre-approval. The advertising rules also prohibit them from targeting minors and ads that violate “good taste” are disallowed.

Additionally, there is a proposed rule that bans betting on the Olympics, something which was not included in the legislation of the General Assembly. For this issue, the operators argued that excluding some sports evets would defeat the purpose of the legislation. Several companies also requested for a more lenient advertising policy where they won’t need a formal sign-off in advance.

Laying The Foundation of Virginia Sports Betting

The public review is being conducted by the Lottery to lay the foundation of the sports betting rules in Virginia. The outcome of the review will determine how quickly or not sports betting will launch in the state and what the bettors expect to see in the betting apps when they are officially launched. If all goes well, sports betting is expected to start next year in Virginia.

This year, the General Assembly passed a legislation authorizing the Virginia Lottery to hand out between four to 12 sports betting licenses in the state. Sports betting in Virginia will start online, largely via sports betting apps. However, it could eventually expand to the brick and mortar casinos being planned in different cities and the Colonial Downs operated Rosie’s gambling places.

The Virginia Lottery Board is expected to meet on Tuesday to vote on the new rules on sports betting. Once the rules and regulations are in place, the Lottery will begin accepting applications for sports betting licenses next month. Sports betting is expected to bring in an annual $55M in state tax revenues.

Here’s an Update on the Bristol Casino Project

Earlier this year, lawmakers in Virginia approved a measure to allow five new casinos to open throughout the state. Under the current plan, one of these gaming venues will be located in the city of Bristol. This week, airport executives in the city spoke with the media about some of the potential tourism benefits the Bristol casino project could bring the city.Virginia Sign

Many feel that Virginia’s casino will eventually grow to become one of the biggest on the East Coast. The legalization of this industry came at a tough time, though. Now is the perfect time to look at when the new casino in Bristol may open its doors.

Let’s get into it!

Virginia’s Long Road to Casino Legalization

For years, we’ve been covering Virginia’s slowly-changing gambling regulations. For many years, almost all forms of gambling were completely prohibited here. State officials started to realize the massive revenue potential that legal casinos could bring about a decade ago.

In early 2020, an official bill to legalize tribal and commercial casinos made its way through Virginia’s House and Senate. It was pushed through and ultimately approved by Governor Northam. The timing, it would turn out, was not ideal.

The US land-based casino industry is in its toughest position ever. Back in March, all casinos around the country were forced to shut down. States have gradually begun allowing these properties to reopen.

Things are far from normal, though. Intense safety regulations are set in place at all casinos around the United States. Most casinos continue to see monthly massive revenue drops when compared to the same months in 2019.

This isn’t what Virginia’s lawmakers want to see. The state has already invested a large amount of money and time into the legalization of this industry. Some analysts feel it could take years to see a full recovery, if a full recovery is possible at all.

That isn’t stopping officials from pushing ahead with their casino plans. We’re now beginning to hear more about how a casino in Bristol would help the city.

Bristol Casino Project is Expected to Boost Tourism

As of now, three cities have official permission to host one of Virginia’s new casinos. That includes Norfolk, Portsmouth, and Bristol. That latter is continuing to push hard to be one of the first cities in the state with a casino.

Many residents, business owners, and officials here are excited to see this new gaming venue open. This week, several advocates of the project spoke to the media about the benefits this new Bristol casino project will bring the city. That includes a significant increase in air traffic and tourism.

United Company President and Chief Operating Officer Martin Kent feels confident this Hard Rock-run casino will be a huge attraction.

“Hard Rock will operate the hotel and casino. There will be connectivity with their other resorts here in the U.S. and abroad, so we will have truly international reach,” he said. “Bristol will be given the opportunity to draw from a large pool of highly sought after performers. … We expect restaurants and a shopping experience. People are going to come here and stay and play and participate in many attractions as well.”

Casinos are great venues to boost tourism in a city. Many parts of the country rely almost entirely on their casinos to bring in visitors. As you might expect, the casino shutdown back in March proved to be devastating for these cities.

This venue is also expected to bring the city somewhere between $15 and $20 million in tax revenue. At a time when cities and states desperately need money, it’s easy to see why officials are pushing so hard to get the Bristol casino open.

When Will Virginia’s Sports Betting Options Become Available?

Since May of 2018, every state around the country has been given permission to legalize and regulate sports betting. 18 states have already launched their sportsbooks. Six more have approved sports betting bills and will launch their sports betting options in the near future.

As we already mentioned, Virginia has taken a complete 180 when it comes to their stance on the gambling industry. Casinos will soon be operational throughout the state. In July of 2020, Governor Northam also approved a measure to allow both online and land-based sports betting.

Many are surprised at the fact that sports betting has not become available here yet. The longer the state waits, the longer it will take to generate revenue. Ultimately, however, lawmakers here want to ensure this new industry is launched the correct way.

Most analysts predict that Virginia’s sports betting options will launch before the end of the year. It’s expected to immediately begin drawing in large revenue earnings.

If all goes to plan, construction on the Bristol casino project will begin next year. Many analysts seem to feel that it will be a huge benefit to the city. We’ll continue offering updates on this casino and others in the state over the next few weeks.

Are you excited to see casinos open in Virginia? Let us know in the comments section below!

The New Danville Casino Plans Have Been Approved!

For years, lawmakers in Virginia have discussed ways to effectively expand the state’s gambling industry. One of the ways to achieve this goal is to open a large new casino in the city of Danville. According to new reports, the new Danville casino plans have officially been approved by the Virginia Lottery.

New Danville Casino Plans

It’s a big step in getting this venue built. Today, we’re going to look back at the state’s road to opening more casinos. We’ll also look at what else needs to be done in order for the Danville casino to open.

Let’s get into it!

History of Gambling Legislation in Virginia

Back in the 1800s, Virginia had one of the largest gambling industries in the United States. By the turn of the century, lawmakers here began to associate this industry with crime. They eventually made the decision to ban nearly all forms of traditional gambling.

This legal ban on gambling remained in place for decades. Beginning in the 1990s, however, state officials here began to change their stance. Many recognized how much money having a regulated casino industry could bring the state.

Several bills to legalize casinos were presented over the past 20 years. None managed to gain any traction. Fortunately, things appear to be changing. In March of this year, Virginia’s House of Delegates finally approved a measure to allow several commercial casinos to open around the state.

This was one of the crucial steps needed to get this bill put into legislation. Since that time, many have been working to come up with specific plans to open casinos in different cities. Casino proponents want to clearly explain how opening a casino will help the state’s economy.

Since 2019, lawmakers have been interested in opening a casino in the city of Danville. Many residents of this city have supported the idea, as well. It now appears we’re closer than ever to seeing a casino constructed here.

Virginia Lottery Approves the New Danville Casino Plans

City officials in Danville have been working hard to get their casino plans approved. It certainly hasn’t been easy, though. The state’s Lottery Commission, responsible for monitoring all gambling activities here, needed to give its approval for the project to move forward.

Fortunately, that’s what’s happened this week. The Virginia Lottery has officially pre-certified the new Danville casino plans. This paves the way for the casino referendum to make its appearance on November’s ballot. Voters in the city will then ultimately decide whether or not to allow a casino.

Ken Larking, City Manager of Danville, spoke about the situation to the media this week.

“It’s certainly good news,” he said. “We’re glad Caesars was able to pull together the necessary information and show the state that they are capable of developing a high-quality project in our community.”

Officials in the city of Danville are obviously excited to see this project move forward. Recently, the Lottery also approved casino projects in Bristol, Norfolk, and Portsmouth. Of course, approval of these projects does not mean a casino license is guaranteed. This is a separate process that takes place once voters approve the casino referendum.

It’s established that Caesars Entertainment will operate the casino expected to be built here. As many know, this company is involved in a massive merger with Eldorado Resorts right now. Here’s where things stand with that situation.

New Jersey Gaming Commission Gives Approval For Eldorado-Caesars Merger

The higher-ups in Caesars Entertainment have to be excited to hear that the new Danville casino plans have been approved. Of course, most of the company is solely focused on its merger with Eldorado Resorts. Back in June of 2019, Eldorado paid an incredible $17.3 billion to acquire Caesars and its assets.

This is the largest merger between two casino companies in history. Our team has been covering the merge for more than a year. Obviously, such a massive deal takes a long time to complete.

Initially, the plan was for everything to be finished by June of this year. After several delays, company officials pushed the finalization date to July. It now appears that things will be completed in August.

Eldorado and Caesars recently gained approval from the Nevada and Indiana Gaming Commissions. These companies now only need the green light from New Jersey’s regulators for things to move forward. Hope was that this would get done before the end of the week.

News has just broken that New Jersey has officially approved the merger. It was the final hurdle in the way of the deal closing. Only a few more easy steps are needed before the country’s largest casino merger is done!

These companies have reason to celebrate. Their deal is nearly complete, and the new Danville casino plans have officially been approved. Stay tuned for more news on Virginia’s casino industry over the next few weeks!

Caesars Entertainment in Talks to Open New Casino in Virginia

The City of Danville, VA, is quickly moving forward with a bidding process to open the city’s first casino. After receiving proposals from operators in early May, the city has decided to move forward with Caesars Entertainment.

Official Government Logo for Danville, Virginia

The city has not approved a site for the casino to be built. However, recent reports suggest the former Dan River Mills industrial complex in the Schoolfield area of Danville is in discussion for the casino’s location. As part of the bidding process, Caesars created a flythrough tour of what the new casino property would look like.

The proposed property features 500 hotel rooms, a 2,500-seat concert venue, and a 35,000 square foot convention center. The designs shared with the city include plans for a sportsbook, 2,000 slot machines, 75 table games, and 16 poker tables.

Check out the video highlighting the initial design of Danville’s new casino.

Virginia Changes Stance on Casino Ban

The Commonwealth of Virginia does not currently allow casinos to operate. However, recent legislative changes have provided cities with a democratic process to legalize casino gaming and legalized gambling.

On April 22, the state’s House of Delegates and Senate voted in favor of Gov. Ralph Northam’s amendments to Virginia’s casino legislation. The bill provides authorization to the “host cities” of Bristol, Danville, Norfolk, Portsmouth, and Richmond to vote via referendum on whether to authorize casinos to operate locally. Each city will vote on its referendum during the general election in November 2020, with the exception of Richmond.

Construction of Caesars Casinos Expected to Generate Jobs

The City of Danville could see the creation of nearly 900 construction jobs during the build-out phase of Caesars Entertainment’s new property. Once the casino is completely operational, the  city expects approximately 1,300 new jobs created to staff the casino and resort.

The construction of the new casino is expected to cost more than $400 million in capital investment. If approved in the near future, the casino should be completely built in 2023. The City of Danville expects to receive over $20 million in revenue annually from taxes on gaming activity.

General Assembly is Ready to Review Virginia’s New Casino Regulations

Lawmakers in Virginia have been discussing opening up the state’s casino industry for years. It seemed as if casinos were set to become legal earlier this year, yet certain state officials are still asking for revisions to the gambling legislation. This week, the state General Assembly is meeting to discuss Virginia’s new casino regulations.

Virginia Casinos

If all goes according to plan, Class III casinos will be approved in this state before the summer. Today, we’re going to discuss the changes to gambling laws here. We’ll also look at what other forms of gambling may become available over the next couple of years.

Let’s get into it!

Virginia’s Governor is Asking for Changes to Proposed Casino Laws

More states are beginning to embrace their gambling industries. It seems like every few months, another state announces it’s becoming interested in legalizing casinos. This is certainly true in Virginia, which has been looking at the legalization of casinos for years.

As we already mentioned, it seemed like casinos would become legal here last year. Things failed to materialize, however, and another push to legalize casinos began in the beginning of this year. In February, news broke that the House and Senate approved a set of casino bills.

That didn’t mean casinos instantly became legal here. Virginia Governor Ralph Northam began taking a closer look at this legislation. Eventually, the Governor asked for an amendment to the casino bills that would allow revenue from these gambling venues to go towards public school construction.

It was a little disappointing for those hoping to see casinos legal this year. Northam’s decision now means the House and Senate will need to agree on the new terms. It’s unclear whether this will take place.

The fact that all US land-based casinos are shut down right now isn’t helping either. There are some analysts that feel the country’s casino industry will never look the same once this pandemic has ended.

This week, Virginia state officials will once again look at the casino legislation being presented.

Officials Are Now Set to Review Virginia’s New Casino Regulations

It’s clear that legalizing casinos is not easy. As many in Virginia now realize, there are several legal steps that need to be taken before these gambling venues can be approved. This includes gaining approval from the state’s General Assembly.

Once again, the House and Senate will need to review the new amendment presented by Governor Northam. These state government bodies will need to approve House Bill 4 and Senate Bill 36. If both bills are approved once again, casinos may finally become legal here.

Senator Todd Pillion gave an enthusiastic statement about this new meeting to the media yesterday.

“Fixing our deteriorating schools is an issue that unites legislators across political and geographical divides,” he said. “Republicans and Democrats from Lee County to Norfolk recognize this is an issue that needs our attention. The amendment, which I support, will allow a portion of state revenues collected from casino projects to be returned to localities to fix our schools, directly benefiting our students and teachers. I am hopeful this solution will have broad bipartisan support in both the Senate and House.” 

It remains to be seen whether or not these bodies will decide to approve these bills. If they are rejected, the legislation will go back to the Governor. It would then be discussed again once again in November.

Are any other forms of gambling likely to be approved here?

Sports Betting is Likely to Become Legal in Virginia Soon

Since May of 2018, every state in the country has been able to legalize sports betting. That’s due to the Supreme Court striking down PASPA. Today, more than 20 states have officially legalized this form of gambling.

Lawmakers in Virginia have discussed plans to allow sports betting for years. It now appears 2020 is the year this happens. During today’s meeting to discuss Virginia’s new casino regulations, lawmakers will also decide on whether or not to approve sports gambling legislation.

Most feel this will happen. The main focus point will be on how much sports betting licenses cost. Under the current plans, it will cost $250,000 for a three-year license and an additional $200,000 to renew these licenses.

Most agree that sports betting will be hugely popular in this state. Virginia is known for its large sports fan base. Governor Northam seems to recognize this, and almost all analysts expect him to sign the sports gambling bills once approved by the House and Senate.

It’s an exciting time for gambling fans in Virginia. This year, two separate forms of gambling are likely to become legal here.

Do you think Virginia’s new casino regulations will be approved? Let us know in the comments section below!

Governor Northam Amends Virginia’s Casino Legislation

For years, lawmakers in Virginia have been pushing to expand the state’s gambling industry. The legalization of casinos, they argue, would help to bring the state millions in additional revenue every single year. Unfortunately, Governor Northam has amended Virginia’s casino legislation and it’s unclear when casinos will be able to operate here.

Virginia Sign

It’s disappointing news for gambling fans in this state. Today, we’re going to discuss when casinos may finally be able to operate here. We’ll also look at how other state’s casino industries are faring right now.

Let’s get into it!

Virginia’s Road to Casino Legalization

Virginia is one of the few states in the country that does not currently allow casino gambling. It wasn’t always this way, though. Many decades ago, this state had a large and successful gambling industry. Today, however, almost no legal forms of wagering are allowed here.

The first attempts to legalize casinos here appeared in the mid-90s. None of these early attempts made it to the Senate. That hasn’t stopped proponents of this industry from trying, though.

Recently, another major push to allow casinos has been taking place. This time, it appears things may actually be successful. Two different bills are being considered here to officially allow casinos in five different cities.

In February, news broke that lawmakers had advanced these bills. Several anti-gambling groups began voicing their concerns, claiming it would lead to higher rates of crime and gambling addiction. Despite these claims, state leaders seemed to be embracing the land-based casino industry.

Things are being delayed once again. News is now coming out that the Governor is amending the policy to allow casinos to start operating. Here’s what we know about this situation.

Governor Decides to Amend Virginia’s Casino Legislation

Allowing land-based casinos to operate in Virginia was never going to be easy. Completely new laws had to be introduced. This week, Governor Ralph Northam decided to delay things a little bit to ensure the money earned from legal casinos goes to the right place.

Governor Northam is now proposing an amendment that would use casino revenue to fund public school construction. Carter Hutchinson, deputy policy advisor for the Governor, recently spoke about the situation to the media.

“The governor is going to amend that provision of the bill that says roughly two-thirds of the [tax] revenue goes to the general fund,” he said. “He is going to amend that language to designate the funding go to school construction, renovation and repairs. The language is going to be relatively broad given the revenue from the casinos won’t start coming in for at least a couple years, probably more.”

Lawmakers in Virginia will meet once again on April 22nd to further discuss Virginia’s casino legislation. At this time, a decision will be made on whether or not to officially approve the new bills.

A 2019 study concluded that legalized casinos could bring Virginia $900 million within five years. A casino in Bristol could bring the state $15 million annually.

We’ll need to wait and see how things go later this month.

US Casino Industry Remains Shut Down

It’s an unusual time for Virginia to consider allowing land-based casinos. As most are well-aware, almost all land-based casinos in the state are completely shut down due to Covid-19. It’s unclear when this will change.

It’s a difficult situation. Health experts believe that casinos pose a serious risk for infection spread. Because of this, some feel it may be months before any land-based gaming venues are able to open again.

The casino shutdown has been seriously damaging for several states. Nevada, in particular, is losing out on an enormous amount of revenue right now. Several major casino operators in Las Vegas are losing millions of dollars every single day due to these regulations.

Atlantic City is beginning to suffer, as well. A recent report claims the city may begin losing $500 million every month. Unless things change, it will be extremely difficult for many casino companies to continue operations here.

Virginia’s casino legislation may soon be approved. It will be interesting to see how the new coronavirus affects these plans.

Stay tuned for more Virginia casino news over the next few weeks!

Virginia’s Casino Industry is About to Open Up

For years, Virginia has been one of the few states in the country without any tribal or commercial casinos. Based on new reports, this is about to change. After receiving approval from the House of Delegates, Virginia’s casino industry may finally open up.Virginia Casinos

It’s extremely exciting news for gambling fans in this state. It’s very likely that five casinos will soon open here. Today, we’re going to take a look at how these new regulations finally came together.

Let’s get into it!

Lawmakers in Virginia Continue Pushing for More Gambling Options

Virginia is known for its tough laws towards the gambling industry. For decades, no land-based gambling venues have been able to operate in the state. It was unusual, as several nearby states had large and profitable gambling industries.

Many lawmakers called for these regulations to change. They tried to argue that these gambling venues would help to bring the state millions in additional revenue every year. Until very recently, however, these efforts have failed.

In 2019, another attempt to allow casinos in the state was made. This time, some major state politicians revealed they were interested. Many states around the country recently expanded their gambling markets and were earning serious revenue as a result.

Lawmakers in Virginia recognized the potential from this industry. Two bills to legalize commercial casinos were slowly making their way through the legislative process. In February, it seemed very likely that the bills would officially be approved.

This is a fantastic time to be a casino gambling fan in this state. Virginia’s casino industry is about to expand rapidly.

Virginia’s Casino Industry Gains Support From House

The push to allow casinos in Virginia has been raging for months. This week, the casino bill was unanimously approved by the House of Delegates. The body now joins the Senate, who approved the bills on Saturday.

This process wasn’t easy, though. The Senate and House argued over tax rates for the casino industry for months. Two separate bills needed to be approved here in order for casino gambling to get approved in the state.

The House approved Senate Bill 4 by a 59-35 margin. Later, they approved House Bill 4. Doing so now sends the bills to Governor Ralph Northam.

Hard Rock Bristol Resort and Casino group, one of the main proponents for casino gambling in the state, commented on the decision to the media this week.

“We are pleased that the General Assembly passed HB 4 and SB 36 and are excited about the potential it will bring,” the statement read. “This legislation allows for major economic development projects in Bristol, Danville, Portsmouth, Richmond and Norfolk and will bring thousands of new jobs and millions in additional tax revenue to Virginia. We want to particularly thank Del. Terry Kilgore and Sen. Todd Pillion and the entire Southwest Virginia delegation for their relentless support and hard work, and Senator Louise Lucas  for her vision and commitment to make this legislation a reality.”

It now seems like just a matter of time before Virginia’s casino industry takes off. Analysts expect Governor Northam to approve the bills. Doing so would allow gambling venues to open in Bristol, Danville, Norfolk, Portsmouth and Richmond.

Sports Betting in VA is Still Being Considered

It’s great to see lawmakers in Virginia start to embrace the gambling industry. Soon, this state could have one of the top casino markets on the East Coast. Unfortunately, legal sports betting is still not available in this state.

Since PASPA was removed in May of 2018, every state in the country has been able to set its own laws on the sports betting industry. More than 20 now have legal, regulated sports gambling options up and running.

A few sports gambling bills have been presented here. Thus far, none have been able to make through the legislative session. Some predict that this industry will become legal here before the end of 2020.

It’s clear that the state is changing its stance towards gambling. Virginia’s casino industry is about to open up. Several other neighboring states are also considering allowing land-based casinos to begin operating.

Make sure to stay tuned for updates over the next few months!

Bristol VA’s Casino Plans Are Coming Together

Virginia has been preparing to allow casino gambling for years. Recently, cities here have begun discussing plans on how to collect the revenue from these gambling venues. Officials have now agreed to Bristol VA’s casino plans.

Casino Floor Picture

This casino will be unique for a number of reasons. Today, we’re going to talk about what separates the Bristol casino from some of the others in the state. We’ll also discuss when this state’s casino industry will get up and running.

Let’s get into it!

Virginia Seems Poised to Legalize Commercial Casinos

Gambling laws are changing throughout the country. It seems like every single month, a new state decides to allow casinos or sports betting. Some felt that Virginia would never decide to allow traditional casinos to operate.

This was due to the harsh laws towards gambling here. For decades, lawmakers in Virginia prohibited almost all forms of gambling. Only recently has this begun to change.

Some feel that the removal of PASPA helped to change the state’s laws. After PASPA was removed, a huge number of states began allowing sports betting and are now earning millions of dollars a month by taxing this industry.

Certain officials have been pushing to legalize casinos in Virginia for years. Last month, a bill to allow tribal and commercial casinos in the state made its way through the Senate General Laws and Technology Subcommittee. It’s now being reviewed by the Senate and House.

Most feel that the state will approve these regulations before the end of the year. Some even think these bills are given the green light within the next few weeks. Many cities are already coming up with preparations to collect revenue from these venues.

Bristol VA’s Casino Plans Are Now Being Discussed

It’s not easy to have casino regulations approved in a new state. Different parts of every state need to get on board with the plans. Under Virginia’s casino bill currently being reviewed, Bristol is the only city in the state that’s required to share its casino revenue with neighboring counties.

These plans, overseen by the Regional Improvement Commission, calls for the money earned from this casino to be shared. It’s interesting to see, as the casino in Bristol is expected to be the lowest-earning gaming venue in the state.

Randy Eads, City Manager for Bristol, commented on the way this casino will help to benefit the state.

“I think from the outset, everybody recognized that this project would benefit not just the city of Bristol but benefit the entire region,” he said. “Southwest Virginia as a region needs a financial infusion, and this is one way to allow everybody to benefit from this economic development project at the Bristol Mall.”

Bristol VA’s casino plans are expected to bring the state $35 million in annual taxes every single year. This is based on the 17% tax rate that’s being proposed. Of course, several issues surrounding tax rates have already popped up.

The House and Senate disagree with how much these casinos should pay in taxes. Hope is that this issue is resolved this week.

Virginia’s House and Senate Continue to Debate Casino Tax Rates

By mid-February, it seemed as if the state was just about to formally approve casinos to start opening. Cities had agreed to a set of regulations. Even Bristol VA’s casino plans were agreed to, despite the fact that it lessens the amount of money this city will earn.

Unfortunately, the Senate and House have failed to come to an agreement over tax rates. For that reason, Virginia’s Senate officially rejected the proposed bills. The House and Senate are now trying to find an agreeable middle ground.

A conference committee in Virginia is scheduled to meet on March 7th. Hope is that this committee can resolve these issues. Most agree that legalized casinos will help to bring the state millions in additional revenue every single year.

As of now, sports betting is still not being discussed in this state. That’s likely to change in time. Several nearby states now allow sports gambling and are profiting massively.

Bristol VA’s casino plans have been approved. Now, the House and Senate need to come to an agreement. Stay tuned for more Virginia casino news over the next few weeks!

Virginia’s New Casino Bill Has Been Rejected

For months, lawmakers in Virginia have pushed to have casino gambling legalized in the state. Legislation continued to advance, and many believed it was just a matter of time before casinos became legal. Unfortunately, Virginia’s new casino bill was rejected in the Senate.Virginia Sign

It’s a huge blow for proponents of gambling in this state. Many have argued that regulated casinos will help to bring the state millions of dollars every single year via taxes. Today, we’re going to discuss why this bill was rejected.

Let’s get into it!

The Road to Legal Casinos in Virginia

Virginia isn’t known as a very gambling-friendly state. In fact, very few forms of gambling are actually legal here. In 2013, several politicians in the state began presenting legislation to legalize riverboat casinos.

These bills were eventually struck down. Afterward, it seemed as if regulated casinos would never begin operating in this state. Recently, lawmakers in Virginia have once again begun pushing to legalize land-based casinos.

Last year, another bill was presented in the state to legalize these gambling venues. By November, Virginia’s new casino bill was approved by a Senate Subcommittee. This bill allows for commercial casinos to begin operating in several different cities.

After the approval in November, it seemed as if legal casinos would be finally allowed to operate in the state. Several of the state’s top politicians were praising the details of this new bill. Then, out of the blue, this casino bill was rejected in the Senate.

It’s extremely disappointing news. Some felt that Virginia had the potential to become a major gambling hub on the East Coast. Here’s what we know about this situation so far.

Virginia’s New Casino Bill Has Been Rejected in the Senate

If approved, the bill presented in the state would have allowed for several commercial casinos to open. According to new reports, this bill has been rejected in the Senate. We’re now hearing reports of why this is.

According to the Washington Examiner, the Senate and House could not agree on tax rates for these casinos. The House is said to want a lower tax rate than the Senate. 

The House claims that it wants a tax rate between 15 and 28 percent of the revenue casinos obtain. The Senate wants these gambling venues to be taxed between 27 and 40 percent of their revenue. Disputes over the cost of a casino license are also taking place.

Members of the House argue that a casino license should cost $5 million. The House believes that a license should cost $15 million. It’s clear that these two chambers have some discussions that need to take place.

The Senate has officially rejected Virginia’s new casino bill introduced by the House. Now, the bill will need to be redrafted in order to fit both chamber’s needs.

Casino May Still Be Legalized in Virginia This Year

It might seem as if the push to legalize casinos in Virginia is now over. That’s not necessarily the case, though. Over the next few months, members of the House and Senate will need to negotiate the terms of this new bill.

Both chambers claim they want to see casinos legalized in the state. Lawmakers here recognize the potential to earn revenue from this industry.

Several lawmakers in Virginia are also working to legalize sports betting. Not long after PASPA was struck down, a study was conducted on how legal sports betting would impact the state. For the past two years, sports betting advocates have tried to convince state politicians to approve legislation for the industry.

Most agree that casinos will be approved to operate in Virginia before the end of the year. Several cities here have already expressed a desire to allow casinos. Virginia’s new casino bill came to a halt in the Senate, yet another is likely to be presented before the summer.

There’s a lot happening here. Stay tuned for more updates on Virginia’s gambling industry over the next few months!