Bally's Corporation granted temporary sports betting permit in Virginia

Bally’s Corporation has announced that it has been granted a temporary sports wagering permit to conduct online sports betting in the Commonwealth of Virginia, which has legalized sports betting in July 2020, becoming the 21st state to allow it.

This move, which allows the omnichannel provider of land-based gaming and interactive entertainment an opportunity to “showcase its sports betting platform, augment its player database through the addition of Virginia-based sports fans, and contribute to the Company's goal of becoming the leader in the U.S. sports betting market”, also marks the company’s entry into the Virginia gaming market. And is expanding its national presence into 13 states once all pending acquisitions are completed, including Colorado, Delaware, Illinois, Iowa, Indiana, Louisiana, Missouri, Mississippi, New Jersey, Nevada, Pennsylvania, Rhode Island and Virginia.  Such market access and licensure are subject to legalization and required approvals by regulatory authorities in each jurisdiction. "Bally's is pleased to receive the temporary sports wagering permit from the Virginia Lottery," said George Papanier, President and Chief Executive Officer of Bally's Corporation. "This represents another step in our evolution to become the leading omnichannel gaming provider in the U.S., and we look forward to providing a first-class experience for sports fans across Virginia”, he added.

With a population of 8.6 million people, recent projections estimate that Virginia's legal sports books could produce as much as $412 million in handle annually, representing approximately $61.8 million in tax revenue. Virginia's proximity to major professional sports franchises and devoted sports fan base make the Commonwealth a natural center for sports betting.