Bill to reinstate Virginia sports betting operator tax deductions changed

Bill to reinstate Virginia sports betting operator tax deductions changed

Article brief provided by Legal Sports Report
  • Matthew Waters, Legal Sports Report
February 1, 2023 9:15 PM
  • Matthew Waters, Legal Sports Report

An industry-backed proposal that would return VA sports betting promotional deductions for all operators was amended to lower those potential deductions.

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Both SB 1142 and HB 2202 moved in their respective chambers Tuesday. SB 1142 was referred out of Finance and Appropriations by an 11-4 vote, while HB 2202 was passed out of a General Laws subcommittee by a 6-2 vote.

Two representatives from lobbying group Sports Betting Alliance spoke in favor of the bill at the House committee despite the change.

The proposal is in response to a change in Virginia’s biennial budget, which ended unlimited promotional deductions from taxable revenue for VA sportsbooks that have been live for a year or longer.