The Virginia Lottery has announced that it is reviewing 25 mobile sports betting permit applications, after receiving a raft of inquiries during the initial submission period of October 15-31.
Claiming that the identities of individual applicants will not be revealed publicly, licence holders will be chosen based on a variety of criteria, including their previous experience and performance in sports betting in the United States, attempts to attract minority investors, and the number of new jobs and tax revenues they plan to create in the Commonwealth.
By law at least four and no more than 12 permits must be given by the Lottery to eligible applicants. According to the statute passed by the 2020 General Assembly, those attached to certain major league sports teams headquartered in or playing at a facility located in Virginia are not included in the limit of 12 permits.
However, applications submitted by casino gaming partners previously chosen by the cities of Bristol, Danville, Norfolk, and Portsmouth are included in the top bracket.
Kevin Hal, Virginia Lottery executive director explained: “The high level of interest by national and international sports betting operators validates Virginia’s efforts to strike an appropriate and responsible balance in its regulatory program for legalised sports betting.
“We are confident that the deliberative review process we are undergoing now will result in a successful program that protects consumers, athletes, and taxpayers.”
After successfully navigating city-wide referendums, the Virginian cities of Norfolk, Danville, Bristol and Portsmouth recently gave the green light to the construction of multimillion dollar casino resort complexes in each area.
The Pamunkey Indian Tribe, Caesars Entertainment, Hard Rock International and Rush Street Gaming are the operating partners chosen for each of the inventions.