Lottery director hopes for steady revenue, despite competition
CHARLESTON, W.Va. -- Lottery Commission Director John Musgrave said Thursday he hopes state Lottery revenues will hold steady in the 2013-14 budget year, despite growing competition from casinos in Ohio, Maryland and Pennsylvania.
"We're hopefully going to do about the same as we're doing this year," Musgrave said of Lottery revenues for the coming fiscal year, which starts July 1, despite expansion of casino gambling competition in the border states.
At the midpoint of the 2012-13 budget year, which ends June 30, the Lottery is clearly seeing the impact of new casinos opening or expanding operations in Ohio and Maryland.
Year-to-date, total Lottery revenues are at $664.5 million, down nearly $42 million from the same point last year.
Racetrack video lottery revenues of $329.1 million are down $45.5 million from fiscal 2012, while revenue from table games at the four racetrack casinos is down about $1.7 million, at $36.47 million.
Revenue from traditional scratch-off and online Lottery games are up slightly for the year, as is limited video lottery in bars and clubs around the state, up $2.7 million at $196.98 million.
The state's share of Lottery profits, year-to-date, of $288.67 million, is down $18.25 million from the same point last year.
Other highlights from the Lottery's monthly financial report:
* December total revenue of $106.3 million was down $3.2 million from November, and down $13 million from December 2011.
Racetrack video lottery revenue of $51.4 million was down $9.9 million from December 2011, while table games were down $170,000 at $6.4 million.
Limited Video Lottery revenue of $32.6 million was down $1.6 million from December 2011.
* The casino at The Greenbrier resort continued to struggle, with December table games revenue of $103,475 continuing to fall from $216,278 in November, and $394,535 in October.
The casino reported losses of nearly $260,000 on mini-baccarat and more than $55,000 on craps in December.
By comparison, table games at the state's largest casino, Charles Town, brought in $14.7 million in December.
Revenues from slot machines at the $80 million hotel casino did rebound in December, increasing to $520,575.
The state's share of profits from The Greenbrier casino for the month was about $155,000.
Reach Phil Kabler at email@example.com or 304-348-1220.