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Virginia poised to legalize casinos at unlucky time

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Posted at 10:23 AM, Mar 22, 2020
and last updated 2020-03-22 10:23:45-04

RICHMOND, Va. - Two week ago, Virginia lawmakers approved legislation to allow developers to build five large casino resorts around the state in what supporters hope will be a dramatic economic boost to struggling areas.

But those plans are now in serious doubt thanks to the coronavirus pandemic, which forced nearly every commercial casino in the country to close just a matter of days after lawmakers voted.

Stock prices of major casino operators, including those vying to move to Virginia, have cratered raising questions about whether the industry will be able to finance the gleaming casino resorts that lawmakers have envisioned.