Figures recently presented to the West Virginia Lottery Commission indicated revenues fell August, dropping 2.5 percent compared to July and declining 9 percent from August 2014. Gross revenue fell .36 million to .42 in August 2015 versus August 2014, as revenue from video slots and table games at the state’s four racinos continued to fall. Overall Lottery revenue year-to-date is 3.2 million, down .65 million since August 2014.
Lottery Director John Musgrave said, “What’s happening is the market is really over-saturated,” noting newly opened casinos in Ohio and Maryland are not meeting projected revenues. Earlier this month he told legislators total lottery revenues dropped $300 million from a peak of $1.56 billion in 2006-07, mainly due to new competing casinos and video slots facilities in Ohio, Pennsylvania and Maryland.
The state’s share of lottery profits for August was $43.25 million—a drop of $880,000 from July and $4.15 million from August 2014. Year-to-date profits were down 6 percent, or $5.6 million, to $87.39 million compared to August 2014.
The figures also showed racetrack video lottery dropped 12 percent, or $6.4 million, to $47.69 million in August, compared to August 2014. Table games revenue decreased by $673,000, or 15 percent, to $3.7 million. Racetrack video lottery also is down $8.51 million, or 8 percent, to $96.69 million, August to August, and table game revenues fell $796,000, or 9.5 percent, to $7.66 million.
Traditional scratch-off and on-line ticket sales dropped about $460,000 to $13.98 million in August. And Limited Video Lottery, available at more than 1,350 bars, clubs and fraternal organizations statewide, also fell in August to $29.63 million, down $1.23 million from July and $1.66 million from August 2013.
