Virginia Sports Betting Handle Rises

(AsiaGameHub) –   The handle saw a 3.2 per cent increase compared to the previous year.

US.- The Virginia Lottery has released its report detailing sports wagering activity for February. The total handle reached $574.6 million, marking a 3.2 per cent rise year-over-year, though it was a decrease from January’s figure of $687.9 million.

Adjusted gross revenue (AGR) amounted to $53.8 million. Mobile operators reported $53.5 million in AGR, while retail operations contributed $344,924. Player winnings totaled $517.5 million, resulting in an operators’ win percentage of 9.93 percent. Out of the twelve mobile operators and three casinos, ten reported positive net AGR, which led to $8.1 million in tax payments.

Casino revenue for February was $95.2 million, an increase of 26.7 percent year-on-year. Slots generated $70.2 million, and table games accounted for $24.4 million. The state collected $17.1 million in taxes for the Gaming Proceeds Fund.

No progress on Virginia online casino bills

Virginia’s legislative session concluded in March without an agreement on a final version of proposed online casino legislation. Two bills, House Bill 161 and Senate Bill 118, differed on the allocation of tax revenue and stalled in a conference committee. These proposals may be reintroduced in a future legislative session.

The House of Delegates approved HB 161 in February, one day after the Senate passed SB 118, but the houses needed to reach an agreement on a final version. Both bills aimed to legalize and regulate online gaming under the supervision of the Virginia Lottery Board. Existing casino operators would have been required to pay $2 million for a license, while online-only operators would have faced an initial licensing fee of $500,000.