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Two Virginia bills that would legalize online poker and online casino games have crossed over to the opposite chambers of the state legislature, an important milestone on the path to getting them to Governor Abigail Spanberger’s desk.
Both barely made it. On Monday, SB118 failed a vote in the Senate, but after Democratic Sen. Schuyler VanValkenburg made a motion to reconsider, it squeaked by in a 19-17 vote.
Over in the House of Delegates on Tuesday, HB161 was also rejected at first, but was looked at again. Democrats got together to discuss things while the House was in recess and when it was back in session, the bill passed, and rather easily, 67-30.
The bills will now be considered by the opposite chamber. SB118 was sent to the House Committee on General Laws on Thursday, while HB 161 was referred to the Senate Committee on General Laws and Technology on Wednesday.
estimated that net revenue would grow by $240m from online gambling taxes in 2028
Online gaming operators would be taxed 20% on adjusted gross revenue and another 6% on net gaming revenue as an “economic development fee” to offset possible revenue lost by retail casinos. The Joint Legislative Audit and Review Commission issued a report that estimated that net revenue would grow by $240m from online gambling taxes in 2028, a figure that could swell to $845m by 2032.
The initial five-year licensing fee would be $500,000, while renewals would be half that. The application fee would be $2m.
iGaming operators would be permitted to have as many as three skins and can partner with internet gaming platform providers to power those sites (meaning the licensed operator does not have to build something from scratch). Each operator’s skin, though, would have to operate under a single brand. The exception is for poker, which can be a second brand if the operator so chooses.
The House version of the bill would set an online gaming industry start date by January 2028, but would require the bill to be passed again in 2027. The Senate’s version has the start date a year earlier. The House also passed a bill to create a gaming commission, a key to gaining the governor’s support.
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