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May 2023 Top Five
The top five most-read daily news stories on VirginiaBusiness.com from March 14 to April 13 included Washington Commanders owner Dan Snyder’s efforts to sell the Ashburn-based NFL team to a group of bidders including Philadelphia 76ers owner Josh Harris and NBA legend Magic Johnson. 1 | Naval operations building in Suffolk sells for $33M Home […]
Lottery approves Danville Caesars casino’s license
UPDATED: April 26, 4 p.m. The Virginia Lottery Board approved the facility operator’s license for Danville’s $650 million Caesars Virginia casino, which is expected to open in a temporary space on May 15. It’s the third casino to receive state approval, following the Hard Rock casino in Bristol and Rivers Cas[...]
Va. to establish trade office in Taiwan
Virginia will establish a trade office in Taipei, Taiwan’s capital, Gov. Glenn Youngkin announced Monday morning after meeting with that country’s president, Tsai Ing-wen. Youngkin’s meeting with Taiwan’s president came during the governor’s first international trade mission, during which he will al[...]
Chesterfield hires first sports/visitation/entertainment exec
Chesterfield County has hired J.C. Poma as its first executive director of sports, visitation and entertainment, with a focus on growing sports tourism, the county announced Friday. Currently the vice president of community relations for regional marketing organization Richmond Region Tourism, Poma will start his new position wi[...]
Innovation, capital key to rural growth, Barkin and Warner say
There’s hope for economic growth in rural areas despite their challenges, Federal Reserve Bank of Richmond President and CEO Tom Barkin and U.S. Sen. Mark Warner said Wednesday during the Fed’s 2023 Investing in Rural America conference in Roanoke. Rural areas could overcome economic development challenges, particularly[...]
Governor would delay subminimum wage ban for disabled workers
RICHMOND, Va. ‒ Gov. Glenn Youngkin recently recommended the General Assembly accept an amended version of a bill that ends the practice of paying subminimum wage to certain Virginia workers with disabilities. A certificate exemption under the federal Fair Labor Standards Act allows employers to determine pay for disabled workers based on a productivity calculation […]
Youngkin to meet with Taiwan’s president
Amid rising tensions with China, Virginia Gov. Glenn Youngkin will meet with Taiwanese President Tsai Ing-wen on his first international trade mission this month. Youngkin will travel to Taipei City, Taiwan; Tokyo; and Seoul, South Korea, from April 24 to April 29, according to a Tuesday news release. “I’m excited to represe[...]
Virginians wager $433M on sports in February
Virginians bet more than $433.8 million on sports in February, according to data released Friday by the Virginia Lottery. Virginia sports bettors won more than $394 million in February. More than $430 million of sports betting revenue came from mobile operators, with the remaining roughly $3.55 million coming from casino retail [...]
Barkin: Raising interest rates is correct course
As inflation remains high and the fallout from recent bank failures seems contained, the Federal Reserve Bank has good reason to continue raising interest rates, Federal Reserve Bank of Richmond President and CEO Tom Barkin said Thursday in a speech to the Virginia Council of CEOs at the University of Richmond. “It is worth [...]
Virginia ABC to hold Secretariat bourbon lottery
Bourbon fans should gallop to enter the Virginia Alcoholic Beverage Control Authority’s online lottery later this month for 187 autographed bottles of Secretariat Reserve Straight Bourbon, celebrating the 50th anniversary of the thoroughbred’s 1973 Triple Crown sweep. The bourbon comes from Charlottesville-based Ragged Branc[...]
DXC penalized by SEC over misleading financial info
Ashburn-based Fortune 500 IT company DXC Technology Co. has been penalized by the federal government for making “misleading” financial reports from 2018 to early 2020, according to the U.S. Securities and Exchange Commission. DXC did not admit or deny the charges, but consented to a cease-and-desist order and agreed [...]
Housing reform bills saw mixed success in General Assembly
Legislative efforts to tackle spiking eviction notices, housing and utility costs were mostly shot down during the Virginia General Assembly session. Almost 193,000 eviction filings have been made in Virginia since March 2020. The monthly-updated data comes from the Princeton Eviction Lab, a group that makes nationwide eviction [...]
