Certain officials in Virginia continue working to expand the state’s gambling industry. For years, there has been a serious push to open a major casino in Richmond. New reports have just surfaced claiming that officials are once again working to get a casino-resort in this city.
Many are in support of this move. A large number of anti-gambling groups are pushing against the opening of this casino. Now is a great time to talk about the latest attempt to get a casino-resort built in this city.
Here’s what you need to know!
Officials Continue Pushing to Open a Casino in Richmond
For many years, Virginia was known for having some of the strictest gambling regulations in the country. No casinos were allowed to operate here. Sports betting remained banned, as well, and harsh penalties were set in place for anyone caught gambling illegally.
Things have taken a complete turn recently. Back in January of 2021, the first regulated sportsbooks officially went live in the state. A major referendum was also approved this year that allows for five Class III casinos to open their doors in the state.
Cities around the state have needed to give approval for casinos to open. Many have been pushing to open one of these casinos in Richmond. Unfortunately, a narrow majority of voters decided against allowing a gambling property in the city. This doesn’t mean that the push to open a casino in Richmond has ended.
Richmond City Councilwoman Reva Trammell is working to get another vote on this casino to appear on the ballots. Bob Holsworth, a prominent political analyst in the state, spoke about this latest move to the media this week.
“Clearly they think that with slightly different messaging, they would have the opportunity to win if it came again,” Holsworth said. “They’re exploring whether they would have a better chance of it passing if they redo the messaging with a stronger focus on challenges to the city’s budget.”
It will be interesting to see if a second vote appears. It will also be very interesting to see if voters in Richmond change their stance on the proposed casino. Stay tuned for updates on this situation!
Virginia’s Sports Betting Revenue Just Broke Another Record
Virginia is not necessarily a sports hub. With that being said, a huge number of residents here are hardcore sports fans and pushed hard to get legal sports betting options up and running after PASPA was removed. Sports betting has been allowed in the state for nearly a year and a huge amount of revenue has already been earned from this industry.
It’s become clear that Virginia has one of the most successful new sports betting industries in the country. Both land-based and online sports betting is legal here. Wagering on any college sporting events involving Virginia-based teams remains prohibited.
This week, reports on Virginia’s sports betting revenue over the month of October just surfaced. More than $427 million was placed on sports bets over October month. Bettors managed to win $397 million. $1.74 million was sent to the state via taxes. Virginia has already earned $14 million in taxes over the course of the year.
Sports betting operators in the state managed to bring in $9.7 million in total gross gaming revenue last October. That represents another fantastic month for these betting companies. Most analysts expect even more impressive revenue figures over November and December.
Virginia is clearly benefiting from its legal sports betting options. Soon, a number of popular casinos will be operating in the state, as well. Stay tuned for more revenue reports as the year goes on.
More States are Expected to Expand Their Gambling Industries in 2022.
Virginia is not the only state to recently look into gambling expansion plans. In fact, a huge number of states chose to legalize sports betting this year. More states are expected to do so in 2022.
California is one state that appears to be on the brink of sports betting legalization. Massachusetts is another. These states are home to massive sporting fan bases and will likely bring in a huge amount of revenue from their regulated sportsbooks.
More states are expected to expand their number of casinos, too. That includes Illinois, where leaders are attempting to open a new casino in Chicago. Mayor Lightfoot supports this move and is working to choose a suitable company to operate this property in the near future.
It’s an exciting time for the entire US gambling industry. 2021 proved to be the best year in history for casinos and sports betting operators. All signs point towards 2022 being an even more successful year for the gaming industry.
Do you expect to see a casino in Richmond get approved anytime soon? What states do you expect will legalize sports betting next year? Let us know in the comments section below!