CHARLESTON, W.Va. — The West Virginia Lottery passed the $1 billion mark in overall sales in revenue numbers released during Wednesday’s Lottery Commission meeting.
At the end of April, the Lottery had recorded $1.06 billion in sales during the first 10 months of the fiscal year.
The Lottery brought in $111.5 million for the month including $43.7 million in Limited Video Lottery, $42.6 million in Racetrack Video Lottery and $13.8 million in instant games.
Year-to-date numbers show Limited Video Lottery revenues at $410 million and Racetrack Video Lottery at $395 million. The Lottery has collected $30 million in revenue from table games this fiscal year.
MORE see Lottery revenue numbers here
The Lottery’s fairly new option of iGaming continues to grow. The state collected $1.3 million from iGaming in April, doubling the amount in took in during the same month a year ago. Year-to-date iGaming revenues are at $10.5 million.
The Lottery could finish the fiscal year in the area of $1.5 billion in total sales. The Lottery has reached $1 billion in overall sales 20 of the past 21 years. The only year to fall short was the 2019-20 budget year that impacted by the COVID-19 pandemic.
https://wvmetronews.com/2022/05/25/lottery-revenues-top-1-billion-with-2-months-left-in-fiscal-year/
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The West Virginia Lottery earned $111.6 million in gross revenue in April, according to figures discussed Wednesday morning during a regular Lottery Commission meeting.
The Lottery reported $43.7 million in gross revenue from limited video lottery sales, the fifth-highest mark since those records started being tracked in 2008, Lottery director John Myers said. The largest haul came in March 2021, when the state collected more than $51.2 million in revenue. The Lottery reported $50.4 million in limited video lottery revenue in April 2021, the second-highest mark in history.
April’s overall revenue totals were also down slightly from last year, as the Lottery collected $115.8 million in gross revenue in April 2021. Previous figures show that total revenue from March, April and May of 2021 were historically high as the state’s casinos reopened to in-person gambling after being shuttered during the COVID-19 pandemic.
Racetrack video lottery revenue hit $42.6 million during April, up more than $5 million from this time last year. For the fiscal year, revenue from racetrack video lottery sales is $395.2 million, up from $324.6 million in April 2021. Total fiscal year collections for limited video lottery sales are $410.9 million, up from $395.1 million in April 2021.
The Lottery officially cleared the $1 billion mark for total fiscal year collections in April. On May 14, Myers said collections had cleared $1.1 billion for the year. He said he expects to finish the fiscal year, which ends June 30, somewhere between $1.25 billion and $1.3 billion.
At this point last year, the Lottery had collected $961 million, which is about $100 million less than this fiscal year’s total.
Myers predicted the coming months will show a slight decline in revenue collections due to fewer people coming into casinos and racetracks during the summer months. He said this is par for the course in normal years.
“It’s cyclical. We see this trend every year where at the beginning of the year, [revenue] goes up, and then down,” Myers said. “With the holidays, people go on vacation in the summer and they don’t play as much, so we always see that same kind of curve with what revenues are in the summer months.”
“We’re just heading into that period, I think you’ll probably see it decline some over the next couple months and then it’ll come back,” he added.
The Lottery Commission tentatively scheduled its next regular meeting for June 29.
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