2023 Virginia Casino Watch: Here’s What To Expect In The New Year

There will be numerous transformations in the Virginia casino and gaming industry by 2025, ranging from the addition of new sportsbooks to the establishment of new casinos.

Expect members of the Virginia General Assembly to fine-tune betting regulations and generate tax revenue for the state as casino betting reaches its six-month mark.

Virginia’s year commences as lawmakers arrive and Portsmouth’s first full-scale casino is launched. The year could potentially conclude with a public casino vote taking place in Petersburg, Richmond, or both.

These are some of the crucial dates that will influence Virginia’s casino policy in 2025.

Now to Feb. 25 — Virginia General Assembly convenes

The deadline to submit bills for consideration was at 10 a.m. on Wednesday, Jan. 11. It is expected that casino siting and problem gambling treatment will be discussed. The General Assembly is set to conclude on Feb. 25.

Richmond vs. Petersburg — the 2025 Virginia casino tug of war

Mayor Levar Stoney of Richmond kickstarted the year by addressing a letter to eight legislators, passionately advocating for Richmond to reclaim its status as a thriving hub for casinos.

In March 2019, during the fourth session, the Virginia General Assembly approved legislation to establish five host casino cities: Bristol, Danville, Norfolk, Portsmouth, and Richmond.

In 2020, the gaming industry in Virginia achieved a perfect score with four successful endeavors. However, Richmond decided to take its time and collaborated with media conglomerate Urban One on an impressive $565 million project called One Resort + Casino.

In 2021, the proposal to establish a site near the Philip Morris manufacturing center and I-95 in south Richmond was rejected by voters.

In the 2022 General Election cycle, Richmond and Urban One expressed their desire to give it another shot. Unfortunately, Sen. Joe Morrissey thwarted their plans by introducing an amendment to the state budget, effectively blocking a 2022 Richmond casino vote.

Moving ahead to the present legislative session, the attention has shifted approximately 25 miles away. Petersburg has responded to One Resort + Casino’s proposals by introducing a colossal $1.4 billion venture by Cordish Companies. The Live! Casino & Hotel Virginia would be the centerpiece of this extensive 4 million-square-foot development, situated at the junction of Wagner Road and I-95.

• There is a gaming, hotel, dining, and entertainment space spanning over 670,000 square feet.
• 1,300 residential units
• 500 hotel rooms
• There is a total area of 600,000 square feet dedicated to retail, dining, and entertainment.

SB 780, brought forward by Morrissey, and its counterpart HB 1373, introduced by Del. Kim Taylor, aim to include Petersburg as one of the eligible cities for casinos.

Should SB 780/HB 1373 make its way to Gov. Glenn Youngkin’s desk, it would prevent a second Richmond bid for a casino until Petersburg has had an opportunity to pursue its first attempt at securing one in the area.

Gaming terminals and a big lottery change

Virginia lawmakers are pushing for increased oversight of video gaming terminals (VGTs) within the state. These machines, resembling slot machines, are typically found in convenience stores and truck stops. SB 462 aims to establish regulations governing various aspects of VGTs, including their manufacture, distribution, operation, servicing, hosting, and playing.

SB 462, in addition, mandates a 34% tax on VGT profits and directs the funds towards the state school construction fund.

In conclusion, the bill not only enlarges the Virginia Lottery Board but also rebrands it as the Virginia Lottery and Gaming Oversight Board, with the intention of enhancing supervision. Similarly, the Virginia Lottery will be transformed into the Virginia Lottery and Gaming Department.

Problem gambling

The Virginia General Assembly is introducing certain guardrails as gaming continues to thrive in Virginia.

A Problem Gambling Treatment and Support Advisory Committee would be established through the collaborative efforts of Virginia state Senator Bryce Reeves (R-Spotsylvania) and Delegate Paul Krizek (D-Mount Vernon), who introduced corresponding bills HB1465 and SB 836.

“In the announcement made on December 27, Reeves emphasized the significance of comprehending the negative consequences associated with the expansion of gaming as Virginia progresses.”

“Our priority lies in directing our attention towards Virginians grappling with gambling addiction. Delegate Krizek and I are thrilled to introduce a bipartisan initiative aimed at ensuring that our Commonwealth’s gaming regulations effectively allocate crucial funds towards problem identification, education on gambling addiction, and treatment.”

Horse racing tax

SB 367 examines the matter of Historical Horse Racing (HHR) machines and makes adjustments to the allocation of funds. It designates one cent from each $10 bet to be allocated to the Problem Gambling Treatment and Support Fund. At present, the general fund receives 75 cents from every $10 wagered on HHR machines. However, under SB 367, this amount would be revised to 0.74%.

Sportsbook taxes

Virginia is considering altering its taxation system for sportsbook promotions and bonuses. Currently, sportsbooks are allowed to deduct these incentives only during the initial year. However, if HB 2202 is passed, sportsbooks will still enjoy this initial-year deduction but will be limited to deducting no more than:

• Each month between July 1, 2025, and July 1, 2025, 2.5% of the total amount of all sports betting wagers placed will be calculated.
• From July 1, 2025, until July 1, 2025, the interest rate will be 2.25%.
• Between July 1, 2025, and July 1, 2026, there was a 2% increase.
• Starting from July 1, 2026, the interest rate shall not exceed 1.75% per month.

Gambling as an addiction

Lawmakers in Virginia are seeking a name change for the Substance Abuse Services Council through SB 824. Although gambling is not classified as a “substance,” the proposed bill renames the council as the Virginia Addiction Recovery Council. Additionally, the bill aims to expand the council’s membership from 29 to 32 by including two members from the problem gambling recovery community and one member from the Opioid Task Force.

Starting from now, SJ 232 will designate March as the official month for raising awareness about problem gambling.

Gaming oversight

We discussed the attempts made to bring Video Gaming Terminals (VGTs) under the purview of the Virginia Lottery for evaluation.

Virginia gaming rules and regulations may be overseen by one of three state agencies, depending on the bets you place in Virginia.

• The Virginia Racing Commission is responsible for regulating both live horse racing events and electronic historical horse racing (HHR) games.
• is overseen by the Virginia Department of Agriculture and Consumer Services.
• In addition to retail and online lottery games, the Virginia Lottery also oversees sports betting and casino gaming.

Legislators possess a report that urges them to explore the viability of placing all games under the supervision of the lottery. Additionally, bills 24 and 25 introduced by SJ aim to eliminate any conflicts of interest within the oversight committee.

Jan. 23 — Virginia’s first full-scale casino opens

The temporary casino of Hard Rock in Bristol has been operational since July. We have recently obtained information regarding the exact date and time of the opening of Rivers Portsmouth Casino.

Starting at 10 a.m. on Monday, January 23rd, Rivers Portsmouth will transform into Virginia’s inaugural full-service permanent casino as customers begin placing their bets.

The casino operators in Portsmouth, Virginia, guarantee a round-the-clock schedule, 365 days a year.

Within a mere 13 months, developers will transition from groundbreaking to placing their first bets at the $340 million Hampton Roads casino. Situated south of I-264, this casino will become an integral part of the Victory Blvd entertainment district.

The name of Rivers Casino Portsmouth will not include the terms “hotel” or “resort” in the foreseeable future. However, there are plans to potentially incorporate lodging in the future. Alongside its offerings, Rivers Casino Portsmouth is expected to feature an event center, a spacious grand hall spanning 25,000 square feet, and a dedicated reception area.

The key highlights of Rivers Casino Portsmouth include:

• 57 table games
• 1,448 slot machines
• there are a total of 24 poker tables located in a separate and exclusive poker room.
• The Topgolf Swing Suites are situated above the sportsbook section of the casino.
• Rivers Casino Portsmouth introduces a lineup of 10 fresh establishments, comprising restaurants and bars.

Virginia residents and visitors have the convenience of placing sports bets from any location within the state. However, those seeking an exciting atmosphere where they can both bet on and watch a game are in for a treat. BetRivers Sportsbook is located at the casino and offers a fantastic experience with the inclusion of the region’s largest high-definition screens in Hampton Roads, sportswriter windows, and an impressive selection of 27 self-serve betting kiosks.

May 15 to May 30 — Annual sportsbook permit application window opens

During the period of May 15-30, the Virginia Lottery allows the submission of annual applications for sports betting permits. However, applications for these permits are only accepted if there are permits available within this time frame.

Hillside (Virginia) LLC has expressed interest in introducing the bet365 Sportsbook to Virginia. Consequently, the Virginia Lottery has granted the company a temporary license as of August 15th.

Loudoun United FC has partnered with Betfred Sportsbook, potentially paving the way for the sports betting company’s entry into Virginia.

Currently, Virginia boasts a total of 13 operational sportsbooks. In accordance with Virginia code, the state officially limits the number of sportsbook permits to a maximum of 12.

However, Virginia’s regulations include exceptions that permit the state to reach a maximum of 19 sportsbooks.

Summer 2025 — Colonial Downs HHR terminals in Emporia

In the summer of 2025, Colonial Downs intends to establish a facility in Emporia, which will house 150 HHR terminals. Subsequently, they will target the commencement of a second facility in Dumfries by the start of 2025, accommodating 1,200 HHR terminals.

The latest addition to Dumfries HHR is being promoted as a gaming resort, offering a range of exciting amenities. These include a luxurious hotel, eight vibrant bars and restaurants, a spacious entertainment venue with a capacity of 1,500 people, a versatile meeting and event space, and a serene green area.

The state law permits a maximum of 5,000 HHR terminals to be operational within the state. Currently, with the upcoming opening of the Emporia and Dumfries locations, the state will have nearly 4,000 terminals in operation.

Nov. 7 — Election Day for any casino referendums

The Virginia General Assembly in Richmond marks one of the final significant dates of the year.

As previously mentioned, in order for cities like Petersburg and Richmond to demonstrate their support for gambling, a casino vote is required. Voters in these cities are advised to save the date of November 7 on their calendars.