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2015 SESSION

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SB 1097 Virginia Racing Commission; powers, definitions, advance deposit account wagering revenues.

Introduced by: Jill Holtzman Vogel | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Virginia Racing Commission (VRC); powers. Revises the Virginia horse racing statute in light of Colonial Downs' surrender of its unlimited license to own and operate the racetrack in New Kent County and the nine satellite facilities (OTBs) in Virginia. Specifically, the bill (i) revises the definition of licensee to permit any licensee to own or operate a racetrack; (ii) adds a definition of (a) recognized majority horsemen's group to clarify that the VRC determines which organizations represent horse owners and trainers at race meets and (b) significant infrastructure limited licensee (Colonial Downs); (iii) reallocates the source market fee paid by online wagering companies (account wagering) licensed by the VRC for specified and VRC-approved purposes; and (iv) establishes a simulcast escrow fund to allow OTB wagering to continue in absence of a contract between a licensee and a recognized majority horsemen's group. The bill contains technical amendments. This bill is identical to HB 1826.


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