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Lottery revenues down, state’s share of profits up

CHARLESTON, W.Va. — Two-thirds of the way through the 2014-15 budget year, state Lottery revenues are down $31.5 million from the previous fiscal year — but the state’s share of profits is running ahead by about $4.5 million.

Through February, gross Lottery revenues of $769.36 million are down about 4 percent from fiscal 2013-14, as revenues from video lottery and table games at the state’s racetrack casinos continues to slide, with business lost to newer casinos in neighboring states.

However, the state’s share of Lottery profits is $352.7 million, up 1.3 percent from the same point last year.

Lottery Director John Musgrave said that when play of Lottery games declines, so do prizes, payouts and commissions, contributing to the small increase in profits…

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