West Virginia Lottery $1B Mark Comes Later Than Usual

The West Virginia Lottery has taken longer this year to reach $1 billion in revenues than it has in more than a decade.

The Charleston Gazette-Mail reports the mark was reached in mid-May. Acting Lottery director John Myers said the month was finished with year-to-date gross revenues of $1.049 billion, down nearly $21 million from the same point in 2015, with one month left in the budget year.

It’s the longest it’s taken to get to $1 billion since 2003. The earliest the Lottery has hit $1 billion was in February 2007. That year, the Lottery set a revenue record of $1.56 billion.

The numbers of competing casinos in Ohio, Pennsylvania and Maryland have multiplied since that time, and the West Virginia Lottery has taken longer to reach $1 billion in revenue.

Casinos Chipping Away at West Virginia Lottery Revenues

West Virginia Lottery revenues are declining, primarily from competition from casinos in neighboring states.

The Charleston Gazette-Mail reports that the Lottery Commission’s acting director, John Myers, said Friday revenues are shrinking at a steady rate of about 4 percent.

For November, the Lottery had gross revenue of more than $87 million, down approximately $2.7 million from November 2014.

Video slots at the state’s four racetrack casinos also fell, as did Limited Video Lottery and scratch ticket sales. The revenue decline ranged from 2.5 percent to 6 percent.

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