Virginia’s nonprofit gaming industry, already booming, has seen its revenues soar.
In 2016, the state’s gaming industry saw $1.1 billion in charitable contributions and charitable gaming was one of the top three industries in Virginia, according to a study by the Virginia Gaming Commission.
And this year, gaming revenues jumped 42% to $2.8 billion.
However, some of the new games coming to Virginia may hurt the state economy.
According to a report by the Center for Community Progress, Virginia’s new games may lead to less charitable giving than they would if Virginia legalized and regulated casino gaming.
The study found that the state has already lost more than $1 billion on the legalized gambling industry.
But it found that gaming revenue will likely rise again, and that will hurt the Commonwealth’s coffers.
“If you think that casinos are bad, you have to think about what’s going on with the other industries,” said Michael R. Brown, a professor at the University of Virginia who studies the gaming industry.
“What happens if they lose revenue?”
Virginia already has a robust gaming industry because of the gaming licenses that have been issued to local casinos.
The state has more than 4,400 gaming licenses, but the state also licenses other casinos and gaming operations to play outside of the state.
A Virginia state representative in the state legislature introduced a bill last year that would require that casinos that are within 50 miles of the Commonwealth to have at least 50% of their revenue come from gaming licenses.
The bill was introduced by state Sen. Michael C. “Mike” McHenry Jr. (R-Prince William).
The bill, however, was pulled from the state Senate committee after the gaming license revenue was estimated to be $7.7 billion.
The new gaming revenue would also help the Commonwealth pay for its hospitals and other public services.
The casino industry has already had a bumpy time in Virginia because of legalized gaming.
Gaming licenses have been suspended in some states, and in April, Nevada became the first state to ban online gambling.
Virginia’s gambling industry is also facing increased competition.
The U.S. Department of Justice recently announced it would crack down on the use of the virtual currency Bitcoin, which allows users to play online games without having to have physical currency.
The federal government says the use and trafficking of virtual currency is akin to drug trafficking, and it could be used to fund cybercrime and other illicit activities.
The Department of the Treasury has also announced plans to take a close look at the use, proliferation and transfer of virtual currencies and other cryptocurrencies.
The proposed legislation would require the state to report on how the state is protecting its gaming licensees and gaming industries.
According in the report, the Gaming Commission will report to the General Assembly on the proposed legislation in January 2020.