RICHMOND, Va. (CBS19 NEWS) -- The Virginia Lottery launched an online microsite providing key information and public transparency as the agency begins developing appropriate and responsible regulations for expanded gaming, according to a news release from the agency.
The 2020 General Assembly authorized the Virginia Lottery as the regulator of new casino gaming and sports betting activities.
The microsite can be found at www.valottery.com/casinosandsportsbetting. It includes information on the rulemaking process and provides estimated timelines for when expanded gaming will become available for Virginia consumers.
The site includes information about materials for casino gaming required to be submitted by eligible host cities and their designated gaming partners for the Virginia Lottery’s preliminary review. The casino legislation requires the Lottery to conduct a preliminary review of each city’s casino development plans as well as a preliminary assessment of the financial viability of the casino gaming partner each city chose.
These preliminary reviews are required before the city can have its proposal placed before voters in a local referendum during the Nov. 3, 2020 general election, according to the release. The Virginia Lottery notified the five eligible cities' mayors and city managers that the agency will be prepared to accept and begin reviewing their preliminary certification materials on June 1.
The casino legislation also requires a more comprehensive review of casino projects. This includes criminal history and financial performance investigations of the designated gaming operators during a more extensive license application process. That process will not begin until after the Nov. 3 referenda and also after draft regulations are completed in April 2021.
The Lottery microsite includes information on regulations governing online sports betting. The sports betting legislation requires the Lottery to award between four and 12 licenses for mobile sports wagering in Virginia and requires the Lottery Board to adopt initial sports betting regulations no later than Sept. 15. This includes 30 days of public comment on the proposed rules. The agency is provided 90 days after regulations are adopted, to review completed applications from potential operators. The lottery anticipates the first preliminary sports betting licenses could be awarded late in the year or in early 2021.
The Virginia Lottery’s expanded gaming microsite has links to the casino and sports betting legislation, information about regulatory requirements and deadlines, tools for citizens to participate in the rulemaking process, answers to frequently asked questions and links to specific forms required to be submitted by casino stakeholders. The site will be updated as the Lottery progresses towards the implementation of these new gaming initiatives. This includes more information on licensing, audit and compliance requirements for operators, equipment manufacturers and distributors, suppliers and employees as it develops.
The Virginia Lottery has more than 30 years of experience in managing a $2 billion a year gaming enterprise. The agency generates more than $1.7 million per day for Virginia’s K-12 public schools and generated a record $650 million for the public schools in fiscal year 2019. An additional $6.5 million in unclaimed lottery prizes was deposited in the Virginia Literary Fund in fiscal year 2019. This provides low-interest loans to localities for public school construction, renovations and technology upgrades.
From the Virginia Lottery:
For more information on the Virginia Lottery, visit our website, download our app, like us on Facebook, follow us on Twitter and Instagram, and check us out on YouTube. Please play responsibly.
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