Virginians Have Many New Gambling Options, But Not Online Casinos
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Virginia has authorized construction of five retail casinos at a cost of nearly $2.3 billion. It also passed legislation to create seven licensed online sportsbooks and an iLottery. Online casino gamling and online poker are not included in the legislation. The state legislature won't reconvene until January 2022.
FanDuel, DraftKings, BetMGM, Bettors, WynnBet, Unibet and William Hill brought nearly $11.4 million in adjusted gross revenue into the state during April 2021. The state's gambling regulator has approved Bally’s, Golden Nugget and Penn Sports Interactive, which partners with Barstool.
Virginians have many new gambling options, but not online casinos.
The cap of 12 permits does not include applications tied to certain major league sports franchises that are headquartered in or play at a facility located in Virginia.
FanDuel is the biggest online gambling operator in Virginia with 53% of the market share. DraftKings and BetMGM are second and third in the state's market. MGM is a giant in retail casino industry and owns the MGM National Harbor Casino in Maryland. The luxury casino cost $1.5 billion to construct and opened in December 2016.
Richmond will also house a nearly $563 million retail casino. The most expensive and expansive one will be on Richmond’s South Side. One Casino + Resort will take shape on land now known as the Phillip Morris Operations Center.
Richmond City Council approved RVA Entertainment Holdings as the casino operator on June 14. The plan for the 90,000-square-foot gaming layout is still pending approval from the Virginia Lottery Board.
The Casino Plan will include a poker room and a high-limit gaming area. Win percentages will be made available at the player's club.
There are still several steps before the retail casino's fate. Council needs to approve a final Host Community Agreement. It's in the draft stage and contains the Casino Plan language regarding poker.
Virginians need to get voter approval at a referendum on Nov. 2 before they are official. Online casinos will not be open until at least 2023.
Virginians have many new gambling options, but not online casinos. Voters in Bristol, Danville, Norfolk and Portsmouth approved referendums allowing the construction of retail casinos in their cities in 2020. Pamunkey Indian Tribe is constructing the $500 million HeadWaters Resort & Casino in Norfolk.
Virginians have many new gambling options, but not online casinos. Five new casinos are coming to Virginia, and MGM's casino is just across the river. Caesars Entertainment's upcoming $400 million casino resort in Danville already has an associated online sports betting app, William Hill. Hard Rock tried to get temporary retail casino operations as it built its $ 400 million Hardrock Casino in Bristol, which was denied by the Virginia Lottery.
Rivers Casino’s gaming floor will feature a wide variety of slots, table games, a poker room and a state-of-the-art BetRiver Sportsbook.
