Because bettors have even less information than someone at a live race (for instance, horse name, jokey, trainer, etc.), critics say the machines are largely based upon luck and are therefore more slot machine than parimutuel betting. Proponents contend the fast-play devices are critical for the future of horse racing.<\/p>\n
“This bill is Virginia’s opportunity to revitalize and restart an industry that is about as old as the commonwealth itself,” Delegate Michael Webert (R-Fauquier) declared.<\/strong><\/p><\/blockquote>\nThe historical racing measure was initially included in Governor Terry McAuliffe’s (D) budget before House Speaker Kirk Cox (R) insisted that such a measure receive standalone consideration.<\/p>\n
The tax benefit forecasts being made by Revolutionary is substantial at $41 million. They also might be a tad lofty.<\/p>\n
By comparison, Tioga Downs, a horse racetrack in Upstate New York that recently incorporated a full-fledge commercial casino with both slots and table games, paid just $22.9 million in gaming tax during its first full year in operation. Prior to receiving its casino license, Tioga owners projected first-year taxes would be between $31 million and $40.7 million.<\/p>\n
Ready to Gamble?<\/h2>\n
The bipartisan Appropriations Committee (12 Republicans, 10 Democrats) nearly unanimously endorsed the Virginia gambling bill. Del. Scott Garrett (R-Amherst) was the lone delegate out.<\/p>\n
Read last Friday on the House floor, HB 1609 presumably stands to receive much more opposition in the 100-member panel. The Richmond Times-Dispatch <\/em>reports that the legislation could force “many lawmakers to choose between anti-gambling instincts and an economic development project pitched as salvation for the state’s horse industry.”<\/p>\n","protected":false},"excerpt":{"rendered":"The Virginia House of Delegates Appropriations Committee has passed House Bill 1609, a gambling measure that would allow the currently shuttered Colonial Downs horse racetrack in New Kent County to incorporate historical wagering machines at the facility. Located about 30 miles east of the Richmond capital, Colonial Downs closed in late 2015 after a license […]<\/p>\n","protected":false},"author":42,"featured_media":69826,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13,18,61,13592],"tags":[],"acf":[],"yoast_head":"\n
Virginia Gambling Bill to Legalize Historical Racing Passes Committee<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n