West Virginia Lottery tops US$1 billion revenue mark

The West Virginia Lottery has broken the US$1 billion revenue mark for the 16th consecutive year during the 2017-18 fiscal year.

US.- The West Virginia Lottery Commission revealed that the state lottery raked US$1.09 billion in revenue during the fiscal year 2017-18 and was up US$12 million year-on-year. In addition, they highlighted it was the 16th consecutive year that the segment managed to break the US$1 billion revenue mark.

According to Lottery Director Alan Larrick, an 11.6 per cent upturn in scratch-off ticket sales and a 5 per cent increase in Limited Video Lottery revenue (driven by a 2017 law which increased the maximum number of machines allowed in bars or clubs) were responsible for the increase. “That five-to-seven bill was a big factor,” he said.

However, racetrack video lottery declined US$17.03 million to US$504.29 million and casino table games lost US$3.81m year-on-year to US$35.15 million.

Still, Mr Larrick believes that sports betting, which may be ready at casinos in September, will help reverse the downward trend. “That’s the hope with sports gaming is that we’re going to get more people into the casinos,” he said and added: “I do think it’s going to bring a new demographic to the casinos,” he said, and forecasted younger people to attend casinos to place wagers on sports.

In addition, the official said the Lottery has completed their work regarding the sports betting segment and is just waiting for casino operators to get their licences. “We’re getting updates from each casino periodically,” he said and added: “The ball’s sort of in the casinos’ court now.”