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Hall reportedly declared…“Creating a regulatory structure for sportsbetting within the aggressive timeline that was mandated by the legislature consumed a lot of bandwidth over the summer and today’s Virginia Lottery Board action represents a really significant step forward.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.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....
Hall reportedly declared…“Creating a regulatory structure for sportsbetting within the aggressive timeline that was mandated by the legislature consumed a lot of bandwidth over the summer and today’s Virginia Lottery Board action represents a really significant step forward.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. Both organizations remain committed to customer experience through enhanced product offerings and authenticity and look forward to joining forces across platforms as the highly-anticipated NFL season gets underway....
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