In Virginia, the Joint Legislative Audit and Review Commission named the Innovation Group, a global research and advisory firm in the gaming, entertainment, hospitality, tourism and leisure sectors, as its consultant to review gaming regulations in other states. The study, to be completed by December 1, was part of SB 1126, passed in the latest legislative session. No casino license could be issued until July 1, 2020, according to the legislation.
The commission’s Principal Legislative Analyst Joe McMahon explained the study team and the consultant will examine how other states govern, regulate and administer legalize gambling. “The Innovation Group will analyze several scenarios for the potential expansion of gaming in the state, including different types of gaming, including casinos, sports wagering and online casino offerings,” McMahon said. He noted this comprehensive study will help lawmakers identify effective structures and policies Virginia should consider if the General Assembly ultimately enacts expanded gambling legislation.
The study will assess potential locations for casinos, based on population, geography and demographics, McMahon said. Bristol, Danville and Portsmouth will be reviewed first; casinos there would be developed by private operators, following approval in citywide referenda. Richmond and New Kent County, where the Pamunkey Indian tribe could locate a casino, also will be evaluated. Potential casino sites will be reviewed for net state and local revenue and other economic impacts, including types of gaming, tax rates and structures.
In a statement, the Bristol Resort & Casino Team, hoping to develop a $250 million casino hotel in the former Bristol Mall, said it “appreciates JLARC’s study of the gaming industry and how Virginia can move forward with allowing casinos to operate in the Commonwealth. The jobs and economic opportunities that can result from casinos operating in the areas detailed in the legislation are important to each of the localities. We look forward to being a resource to JLARC as they undertake the study and welcome their findings later this year.”
