Virginia casino gaming operator bonds.
From $100.
A licensed casino gaming operator in Virginia posts a bond with the Virginia Lottery under § 58.1-4111, with surety acceptable to the Department, in an amount the Department determines is sufficient to cover any indebtedness the licensee incurs to the Commonwealth. Premiums cost 2% of the bond amount, $100 minimum.
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How much does a Virginia casino gaming operator bond cost?
2% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
The bond is the last small piece of a licensing packet that took months — enter the amount the director determined, pay, and file. Here is the whole thing:
Apply online
Company details, years in business, owner details, the bond amount the director determined, and an effective date. Owner details include each owner’s Social Security number and ownership percentage, which is standard on a gaming-license bond.
Issued on the spot
Pricing runs 2% of the bond amount from a $100 minimum, and the consent on the form authorizes a soft inquiry only. Seven-figure penal sums usually draw a short underwriter look before the executed bond generates.
File with the Virginia Lottery
Submit the executed bond to the Department. Regulation 11VAC5-90-40(E) wants a surety rated A or better by a nationally recognized rating agency and at least thirty days’ written notice to the director before any cancellation — both are standard on our paper.
What it is and who needs it.
What the casino operator bond actually covers
Virginia legalized casino gaming in 2020 under Title 58.1, Chapter 41 of the Code of Virginia. A casino may operate only in a city that meets the eligible host city criteria of § 58.1-4107 and whose voters approved gaming at a local referendum, and only under an operator’s license issued by the Virginia Lottery Board — the same board that runs the Commonwealth’s lottery — administered through the Department.
The license itself is a heavy lift. Section 58.1-4108 requires a capital investment of at least $300 million in the gaming establishment, an equity interest of at least 20 percent, and a nonrefundable $15 million fee on issuance and on any subsequent transfer. Against that, § 58.1-4111 asks for something comparatively small: a bond, with surety acceptable to the Department, in an amount determined by it to be sufficient to cover any indebtedness incurred by the licensee to the Commonwealth. The operator’s license itself runs ten years from issuance, reviewed no less frequently than annually.
The Board’s casino gaming regulation, 11VAC5-90-40(E), fills in the mechanics. The department shall require a facility operator to obtain a bond and may require one of a permit holder; the director sets the amount; a facility operator or supplier bond may not exceed $50 million and a service permit holder’s may not exceed $100,000; the surety must carry an A or better rating from a nationally recognized rating agency; and the bond may not be canceled without at least thirty days’ written notice to the director. The director reviews a facility operator’s bond amount annually, so the figure can move at renewal.
You need this bond if you are
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
File with the Virginia Lottery. Submit the executed bond to the Department. Regulation 11VAC5-90-40(E) wants a surety rated A or better by a nationally recognized rating agency and at least thirty days’ written notice to the director before any cancellation — both are standard on our paper.
What sets the price
The premium is 2% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
One soft credit pull, never a hard inquiry, and it never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, then a quick review.
Submit the application with the amount the director determined. The consent authorizes a soft inquiry only; seven-figure penal sums usually get a short underwriter look before issuance.
Start the application →Common questions.
Other Virginia bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Operator license waiting on one bond.
Pricing from $100 at a rate of 2% of the bond amount. Enter the amount the director determined and file with the Department. Free until issued.