The Virginia Lottery has announced that it is reviewing 25 applications for mobile sports betting permits, after receiving a raft of inquiries during the initial October 15-31 submission period.
Asserting that the names of specific applicants will not be publicly released, permit holders will be selected on a number of factors, including their past experience and success with sports betting in the United States, efforts to solicit minority investors, and the number of new jobs and tax revenues they expect to generate in the Commonwealth.
By law, the Lottery must issue at least four and no more than 12 permits to qualified applicants. According to the statute enacted by the 2020 General Assembly, the cap of 12 permits does not include those tied to certain major league sports franchises that are headquartered in or play at a facility located in Virginia.
However, the top bracket does include the applications submitted by the casino gaming partners previously selected by the cities of Bristol, Danville, Norfolk, and Portsmouth.
“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,” said Kevin Hal, Virginia Lottery executive director.
“We are confident that the deliberative review process we are undergoing now will result in a successful program that protects consumers, athletes, and taxpayers.”
The Virginian cities of Norfolk, Danville, Bristol and Portsmouth recently gave the green-light to the development of multimillion dollar casino resort complexes in each location following the successful navigation of city-wide referendums.
Operating partners selected on each of the developments are the Pamunkey Indian Tribe, Caesars Entertainment, Hard Rock International and Rush Street Gaming, respectively.