Legislators of the Old Dominion will have the chance to discuss the possibility of online casinos within their territory in the coming years. Known as SB827, the bill has been referred to the Committee on General Laws and Technology, and aims to see the state of Virginia to provide iGaming platforms that offer games of chance such as online slot games, table games, and live dealer games to their citizenry.
Another goal of SB827 is to offer online casino licenses to the state’s four casinos. Currently, the casino operators in the state include Caesars Virginia, Golden Eagle Corp, Hard Rock Bristol, and Rivers Casino Portsmouth. The draft law goes to outline more details about the proposed legalization.
What’s the Reason for Legislators to Talk About SB827?
One of the major drivers for the legalization of online casinos in Virginia is the potential revenue the state can accrue once they have a regulated online casino environment.
Virginia previously legalized sports betting in 2020 and it officially launched in January 2021. Since launching, Virginia sportsbooks have accepted $19.2 billion in bets. Sports betting operators in the state have reported $1.9 billion in revenue and $224.2 million has been paid for taxes.
It can be inferred that the prospect of raking in significant online casino real money revenue in the event that SB827 has been approved will give the state even more budget liquidity.
Meanwhile, players within the Old Dominion can avail of various online casino bonuses from casino operators that will take advantage of the projected online casino environment SB827 will provide to grant bigger payouts.
Will SB827 Face Opposition?
While the prospect of Virginia being the latest U.S. state to have legalized online casinos is on the table, it is likely to face some opposition from traditional casino operators within the state.
The Cordish Companies will be one of the biggest oppositions of SB827. They have been steadfast in opposing iGaming and online casinos in markets across the country where they operate their own brick-and-mortar casinos.
Cordish’s General Counsel Mark Stewart stressed that iGaming is a huge detriment to local jobs and brings “more financial pain than gain” for the state,
“Online gambling is very different than in-person casino gaming. At Maryland’s casinos, regulations and the casinos’ procedures are geared to create a pause in the action and make patrons think twice before placing that next bet,” Stewart added.
That said, if Virginia lawmakers succeed in passing the bill and legalizing online casino gaming, they would become the eighth state to do so.
Apart from the local legislators lobbying for SB827, support from casino operators like Boyd and Caesars are proponents for iGaming as a step in the right direction for establishing a potential online casino environment within the state.
