By March 26, 2020 Read More →

Coronavirus Update: Closed casinos, bars costing W.Va. $9M-plus a week

By Phil Kabler, Charleston Gazette-Mail

CHARLESTON, W.Va. — West Virginia is losing more than $9 million a week from the shutdown of state casino and Limited Video Lottery gaming.

Meeting telephonically Wednesday, the Lottery Commission discussed multiple aspects of the coronavirus pandemic’s impact but did not mention the most obvious issue — lost revenue.

Casino video lottery machines, table games, sports wagering and Limited Video Lottery gaming accounted for 84% of total Lottery revenue of $95.1 million and profits of $44.7 million in February. That calculates to an average profit of $9.4 million a week.

Barring major winter storms, cold-weather months such as February are generally high-revenue months for the state’s five casinos and the bars and clubs offering LVL.

Casino and LVL accounted for 83% of the $746.2 million in revenue and $337.2 million in Lottery profits for the first eight months of the budget year. …

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