Virginia Lottery Board approves fourth casino operator licence for Norfolk Casino
Golden Eagle Corporation II, LLC becomes the latest operator to secure approval under Virginia’s market.
The Virginia Lottery Board has unanimously approved a casino facility operator’s license for Golden Eagle Corporation II, LLC.
The approval paves the way for a new casino in downtown Norfolk. The company becomes the fourth approved operator in the state, joining Caesars Virginia in Danville, HR Bristol and Rivers Casino Portsmouth.
Golden Eagle’s approval follows an extensive review process conducted by the Virginia Lottery, which included a full evaluation of the operator’s application materials and a detailed background investigation.
The review aimed to ensure full compliance with the state’s regulatory and financial standards, as required under legislation passed by the General Assembly in 2020.
The new facility in Norfolk marks another step in Virginia’s gradual casino rollout, which was approved by voters through a series of local referendums.
While proceeds from traditional lottery games continue to support K-12 programs, the tax revenue generated by casinos and sports wagering will be allocated to other public priorities determined by the General Assembly.
The approval of the Norfolk project underscores Virginia’s goal of ensuring both economic development and consumer protection in its expanding gaming sector.
Virginia’s regulated gaming landscape continues to evolve, though not without fluctuation. In September, sportsbooks across the state reported a 2.1% month-on-month decline in adjusted gross revenue, according to Lottery data, while, in August, it reported a $510.2 handle, up 22.4% year-on-year.
Nonetheless, steady casino licensing and infrastructure development signal growing long-term confidence in the Commonwealth’s gaming industry.
The Lottery’s oversight of casinos and sports betting represents the development of a tightly controlled but expanding market.
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