Bill > SB558

This bill establishes the Virginia Gaming Commission as an independent agency to oversee and regulate all legal gambling in the Commonwealth, excluding the state lottery. It outlines eligibility requirements for the Commission's Commissioner and Board members, details their powers and duties, and facilitates the transfer of employees from relevant state agencies to the new Commission. The bill also makes numerous technical amendments to existing laws, including those related to the Virginia Racing Commission, which will now operate under the Virginia Gaming Commission, and updates references to reflect the new structure and the creation of new chapters within Title 29.5 of the Code of Virginia, which will govern various forms of gaming such as charitable gaming, casino gaming, sports betting, fantasy contests, and horse racing. Key changes include the establishment of a new regulatory framework for casino gaming, including licensing requirements, taxation, and local referendums, and the creation of a comprehensive regulatory system for sports betting, fantasy contests, and horse racing, including provisions for licensing, taxation, and consumer protection. The bill also amends laws concerning the Virginia Lottery, transferring its regulatory functions related to gaming to the new Commission and updating references to reflect the new structure.

Business and Industry, Justice

https://lis.virginia.gov/bill-details/20261/SB558