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Virginia sports betting amendment seeks to limit promotional spend deductions

13th January 2022 10:53 am GMT
OpenBet

Sports betting operators in Virginia will have to rein in their promotional spending if lawmakers approve proposed amendments to gambling legislation.

The amendments introduced Wednesday (Jan. 12) could increase sports betting taxes for the state by eliminating carry over of losses and limiting promotional credits.

Under existing law, sports betting operators are allowed to carry over losses for a period of twelve months when adjusted gross revenue for any month is a negative amount, thereby offsetting their [...]

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