Restart of Gaming Machines in West Virginia Brings Record Revenues
West Virginia limited video lottery machines scored record revenue for the first few days of resumed operations. Keeping the same pace, the LVL machines may raise $45 million in June.
Limited Video Lottery Machines Score Record Revenue since Reopening
West Virginia’s casinos, sports betting and limited video lottery machines were shut down back in mid-March. Following the on order by Governor Jim Justice the shutdown was lifted earlier this month. With the industry restarted not even a month ago, the LVL machines in the state are scoring record revenues. Some machines located in West Virginia have shown triple revenue on a daily basis. During its Wednesday meeting, the state Lottery Commission was notified by the State Lottery Director John Myers about the spike in revenue. According to Myers, numbers showed revenue of average $1.5 million on a daily basis generated by more than 7,000 LVL machines in the state. With that being said, it’s important to mention that the usual revenue from those machines is around $500,000 for a day.
According to director Myers, the LVL machines set a record on the day when the industry was restarted. Myers continued by saying: “The Saturday, May 30th, when we reopened was the highest Saturday that we recorded since we started keeping records on that since a Saturday in July 2008.“
State Gambling Revenue Drops, Will the Lottery Machines Pick It Up?
Records show that for May 30 and May 31 LVL machines in the state raised $3.3 million in revenue. Myers outlined that despite casinos reopening on June 5, they haven’t shown such revenue increase compared to LVL machines. He also pointed out that the operators who now welcome guests are following health and safety requirements introduced due to COVID-19. Those health and safety measures are similar to other states’, where operators reopened or plan to reopen doors in the post-COVID-19 environment.
Focusing on monthly revenue numbers in May, those dropped down to $28.5 million. Most of the revenue was raised by traditional lottery such as online tickets and scratch off cards. With that being said, year-on-year comparison shows a staggering 71% drop as records from May 2019 show some $99,9 million in gambling revenue. Keeping in mind the big hit that the gambling industry sustained in the last few months due to the COVID-19 outbreak, the revenue raised by LVL machine looks promising. If the revenue keeps the same pace, June revenue may end with 50% increase which is some $45 million.
Online Gaming in West Virginia One Step Closer
Inline gaming in West Virginia may be a fact for as early as July. The Legislature in the state legalized online betting back in 2019. Wednesday’s meeting saw an update on rules for control over online gaming as well as additional methods of control. In other words, online betting may be launched in July.
Lottery director Myers commented on the subject by saying: “We may see iGaming by the end of July, based on the progress these folks are making.” Once online betting is launched, punters will be able to place bets on video slots games as well as virtual casinos from their smartphones or other mobile devices.
Only two days into operations, the limited video lottery machines in West Virginia raised record revenue.
Lottery revenues: Racetrack Video Lottery trails LVL in latest numbers
CHARLESTON, W.Va. — Revenue from the West Virginia Lottery was $93.7 for August, members of the state Lottery Commission were told Wednesday during their monthly meeting in Charleston.
Deputy Lottery Director for Finance Dean Patrick said Limited Video Lottery brought in the most revenue at $38.2 million followed by Racetrack Video Lottery ($35.2 million), traditional lottery games ($17 million), table games ($2 million), the Greenbrier ($890,000), sports betting ($203,000) and online gambling ($102,000).
Patrick said the general lottery fund was down approximately $1.1 million for the month because Racetrack Video Lottery at the casinos hasn’t hit projections for the fiscal year.
“The Lottery Fund is down about $2.7 million year-to-date,” Patrick said.
Limited Video Lottery, the neighborhood slot machine parlors, has exceeded estimates so far this budget year, Patrick said.
“In the Excess Lottery Fund we’re up for the month about $5.2 million and that’s primarily due to Limited Video Lottery performing better than our projections and we’re up about $9.4 million year-to-date in the Excess Lottery Fund,” Patrick said.
The Lottery Commission also approved the annual license renewals of the companies that own the casinos in Charles Town, Chester, Wheeling and Nitro Wednesday. The companies have until Sept. 30 to pay the annual licensing fee of $2.5 million per casino. Only Mountaineer Racetrack and Casino in Chester had paid the fee as of Wednesday.
Commission removes 4 players from exclusion list
The commission voted Wednesday to remove four former casino players in West Virginia from the statewide exclusion list.
The four, three of whom live in Pennsylvania and one in Maryland, have been on the list for more than six years. They’ll now be allowed to return to West Virginia’s casinos.
Myers allowed to approve licenses provisionally
State Lottery Director John Myers received the okay Wednesday to approve various lottery licenses provisionally. Myers told the commission delays caused by the ongoing pandemic has created a need for such a provision.
“This would allow me to approve a license provided that they’ve made their payments, we’ve done our review and then it comes back in front of the commission the next month,” Myers said.
Lottery revenues: Racetrack Video Lottery trails LVL in latest numbers CHARLESTON, W.Va. — Revenue from the West Virginia Lottery was $93.7 for August, members of the state Lottery Commission