LOTTERY TO CELEBRATE 23RD ANNIVERSARY

12/29/2008

The West Virginia Lottery plans to celebrate its 23rd anniversary on Jan. 9 with cumulative sales of more than $13 billion since the first ticket was sold in 1986, according to Lottery Director John Musgrave.

He said more than $4.5 billion in profits has been transferred to state programs receiving appropriations from the Legislature; more than $3 billion of that figure was generated by Racetrack and Limited Video Lottery games.

Musgrave said traditional game sales total $3.4 billion of cumulative sales, with players receiving $1.95 billion, a figure representing 58 percent. “The law governing traditional games stipulates that players receive at least 45 percent of total revenue.

Approximately $735 million represents sales for the current fiscal year through December, with more than $249 million in profits transferred to the State, Musgrave said. He said that figure would move to $290 million by the end of January, when transfers are completed.

Musgrave announced at the close of the 2008 fiscal year on July 1 that sales had again broken the $1.5 billion sales mark. The figure included $198 million from traditional games, $898 million from Racetrack Video Lottery, $412 million from Limited Video Lottery games, and $45 million from table games.