A video replay of the Game Changers: Strategies for the Business of Sports and Gaming Webinar Series session, “Behind the Scenes of Betting and Professional Sports,” is available.
Game Changers: Strategies for the Business of Sports and Gaming Webinar Series
Duane Morris and SeventySix Capital are hosting the webinar series, “Game Changers: Strategies for the Business of Sports and Gaming.” The first session, “Behind the Scenes of Betting and Professional Sports,” takes place on March 10, 2021.
For more information and to register, please visit the firm website.
Governor Returns Virginia Gambling Legislation with Amendments, Including Tax for COVID-19 Fund
In a March 17 Alert, we reported that Virginia’s General Assembly had sent Governor Ralph Northam two bills (Senate Bill 36 and House Bill 896), which, if signed, would permit five land-based casinos, online sports betting and up to 2,000 additional historical horse racing machines in the commonwealth. On the April 11 deadline to take action on the bills, Governor Northam returned them, each unsigned, to the Virginia legislature with amendments. While the governor’s proposed changes to the two bills appear minor (for example, they did not change tax rates, minimum capital expenditure requirements or the types of games), a new proposal would further expand gaming in Virginia, at least temporarily, by permitting and taxing skill-based machines in bars, convenience stores and truck stops to raise money for a COVID-19 relief fund.
Update: On April 22, 2020, both chambers of the Virginia General Assembly approved Governor Northam’s amendments to the casino and sports betting bills, thus effectively making both bills Virginia law.
To read the full text of this Duane Morris Alert, please visit the firm website.
Virginia General Assembly Passes Expansive Gambling Legislation
Legalized casino gambling and sports wagering are approaching the finish line in Virginia following the recent passage of two bills by the Virginia General Assembly. Senate Bill 36 and House Bill 896, both awaiting the signature of Virginia Governor Ralph Northam, would permit five land-based casinos, online sports betting and up to 2,000 additional historical horse racing machines.
To read the full text of this Duane Morris Alert, please visit the firm website.