+1 State. 5 New Casinos + Sports Betting + Historical Racing

The state that has a gaming bill on its Governor’s desk: Virginia

The legislation: SB 36 (2020 | VA)

What does SB 36 entail?

• 5 new casino licenses across 5 cities
• sports betting on mobile apps & websites
  • 4-12 digital sports betting licenses
• additional  historical horse racing machines at racetracks
• professional sports teams like the Washington Redskins to pursue their own sports betting platforms, as long as their headquarters is in Virginia

What did SB 36 specifically exclude and what was the trade off?

• excluded: colleges and universities from the new sports betting market
• the trade: a lower tax rate of 15% in lieu of a 17.5% tax rate

Prince William Times | Lawmakers approve casinos and sports betting, prohibit bets on Virginia college teams