The state’s cash cow is producing less
WEST Virginia has raked in the money since since it legalized first one, then another and another gambling mechanism. But new competition from Ohio and Pennsylvania is siphoning off some of that action, and there are clear indications that the Mountain State is in for a fall.
As the Daily Mail's Zack Harold reported, the West Virginia Lottery Commission reported $124 million in revenue from gambling in March. That's about $18 million less than for the same month last year, which saw the state take in $142 million.
Since July 2012, the state has to date realized
$997 million in revenue from all sources. In the same period of the previous year, the state had taken in $1.09 billion in gambling revenue.
The biggest contraction occurred in racetrack video lottery revenue. That source brought in only $60.8 million last month — compared to $73.8 million in March 2012.
Racetrack video lottery machines brought in $490 million between July and the end of March. In the same period of 2012, the state realized $574 million.
The gambling industry used West Virginia to get the five surrounding states to see the beauty of legalizing gambling.
Now West Virginia isn't the only game in the region anymore. That will have consequences for some state programs.