W.Va. Lottery surprises with $81M surplus - WVVA TV Bluefield Beckley WV News, Weather and Sports

W.Va. Lottery surprises with $81M surplus

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CHARLESTON, W.Va. (AP) -- The West Virginia Lottery ended the just-completed budget year with an $81 million surplus, giving state revenues a surprising boost.

Lottery officials had forecast a 5 percent drop during the year that ended June 30. But gross sales topped $1.4 billion for the year, or 9 percent more than expected.

Thousands of video slot machines at West Virginia's four racetracks provide the largest share of lottery proceeds. They did better than expected despite competition from Maryland, Pennsylvania and Ohio. But that competition is only increasing. As a result, officials believed the current budget year will see lottery sales decline by more than 14 percent.

Lottery revenues fund the PROMISE college scholarship program. Proceeds also benefit other areas of education as well as tourism and programs for seniors.

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