A proposal that would legalize wagering on historical horse racing in Virginia was approved by the House of Delegates Appropriations Committee late Friday afternoon.
The Roanoke Times reports that the legislation, which was passed the Appropriations Committee by a 21-1 vote, will now be sent to the House floor for a vote, which is expected to happen this week.
If passed, the historical gaming machines would be installed at the now-shuttered Colonial Downs and off-track betting parlors around the state.
Revolutionary Racing, a Chicago-based company that is in the process of buying Colonial Downs, released an economic analysis that indicated that historical gaming machines “would generate almost 80 percent of the revenue” from a reopened Colonial Downs.
The analysis further indicated that by 2022, Colonial Downs “could have an annual economic impact of $349.1 million, support more than 1,400 jobs and produce $41.7 million in state and local taxes.”
“The reopening of Colonial Downs will put Virginia back on track,” said Jeb Hannum, executive director of the Virginia Equine Alliance.
Read more in the Roanoke Times
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