In a 79-21 vote, the Virginia House of Delegates approved HB 1609, legalizing historical horserace wagering at the shuttered Colonial Downs track near Richmond and at off-track betting parlors. The measure previously passed the Virginia House of Delegates, and now will advance to the Senate for further consideration. State Delegate Michael Webert, the measure’s sponsor, said, “This bill is Virginia’s opportunity to revitalize and restart an industry that is about as old as the commonwealth itself, if not older. The biggest winner will be Virginia.”
Originally, language to legalize historical racing was included in former Governor Terry McAuliffe’s proposed budget. But House Speaker Kirk Cox, an opponent of the bill, demanded it be filed as a standalone. Cox spokesman Parker Slaybaugh said, “We just thought it was a big deal, something that didn’t belong solely in the budget and should be argued on its merits.”
The Virginia Racing Commission and New Kent County economic development officials expressed their support of the legislation. A report commissioned by the Virginia Equine Alliance, representing the state’s various horseracing groups, stated historical racing is a “top priority.”
Chicago-based Revolutionary Racing, expected to purchase Colonial Downs this year, made it clear that the deal depends on legalizing historical racing. The company released an economic analysis indicating historical racing would generate 80 percent of the revenue at a reopened racetrack. The report said the when the revitalized Colonial Downs reaches “full capacity” in 2022, it could generate an annual economic impact of $349.1 million, create 1,407 jobs and produce $41.7 million in state and local taxes.
Colorado-based Jacobs Entertainment, the current Colonial Downs owner, recently surrendered its operating license after feuding with groups representing thoroughbred horse owners, trainers and breeders. Chairman and Chief Executive Officer Jeffrey Jacobs stated, “Virginia thoroughbred racing is well on its path to demise.” Colonial Downs closed after the summer 2013 racing season.
Family Foundation Vice Chairman Bruce Kemp spoke in opposition to the historical racing bill, stating it allows players to bet “more often and faster, which is what gambling addicts need.”
