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”Serious sanctions:This new franchise tax is to be applied to the higher of either a local iGaming operator’s monthly gross turnover or a pre-arranged revenue minimum.”...
According to a Tuesday report from local television broadcaster WWBT-TV, the governor-appointed panel authorized the jurisdiction’s first-ever rules on sportsbetting yesterday after responding to feedback from several prominent operators and is now hopeful of being able to kick off the required licensing process from sometime next month. Kevin Hall serves as Executive Director for the Virginia Lottery and he purportedly told Richmond-based WWBT-TV that the new policies moreover explicitly prohibit wagering on collegiate contests featuring teams from ‘The Old Dominion State’ as well as any sporting event where participants are under the age of 18. The source detailed that the revised structure has been designed to bring in more cash so as to help fill an estimated ....
Legislative license:Both houses of the Virginia General Assembly comfortably passed legislation to legalize sportsbetting earlier this year before reportedly tasking the Virginia Lottery Board with formulating a detailed set of rules to regulate how the growing industry is to be operated.’Guelli’s statement read…“Our enhanced agreement with DraftKings Incorporated provides innovative opportunities as we look to deliver a best-in-class fan experience.”...
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