Virginia Getting New Casino and Horse Track

Following a lengthy history of staunch opposition, the state of Virginia seems to be experiencing a shift when it comes to casino-style gambling.

The Pamunkey Indian tribe has recently disclosed its plans to build a $700 million casino and resort in partnership with Yarbrough Capital and is currently eyeing a 600-acre property in New Kent County, located just 30 miles east of Richmond. Soon after, another announcement came on the heels of the Pamunkey project: Chicago-based company Revolutionary Racing has struck a $20 million deal to buy Colonial Downs, a closed down horseracing track located just minutes away.

Gambling laws in the United States have always been notoriously restrictive. Although gambling is legal under federal law, each state controls its own regulations, and most impose heavy restrictions. In fact, Nevada and Louisiana are the only two exceptions that allow casino-style gambling statewide; other states that currently allow casino-style gambling impose restrictions concerning where exactly it can take place: for example, in specific cities, like Atlantic City in New Jersey, on Native American reservations, or exclusively at riverboat casinos.

While the vast majority of states in the U.S. advocate a change in gambling laws, Virginia is one of only ten states that have consistently opposed all forms of gambling. This change in mentality may be a reflection of the changing times.

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