CHARLESTON, W.Va. — The West Virginia Lottery Commission voted Monday to relicense all five casinos doing business in the Mountain State despite declining revenues due mainly to increased out-of-state competition.
The commission heard reports from its independent auditor on the condition of the casinos in Charles Town, Chester, Wheeling, Nitro and at the Greenbrier Resort. Lottery Director John Musgrave said even though revenues have declined the parent companies of the operations are in good standing.
“Each of the facilities has had reduced revenue over the past year from competition from other states and more than likely will have further decline,” he said.
The latest Lottery financial numbers show Racetrack Video Lottery revenue is down nearly $60 million this fiscal year while revenues from table games have dipped nearly $20 million.
Musgrave said the lottery commission still believes the casinos have what it takes to hold their own.
“We just have to offer better games, better entertainment, better food, better hospitality,” he told MetroNews.
Musgrave said he also expects all five license holders to re-up for the next year. State law requires Mountaineer, Wheeling, Charles Town and Mardi Gras to pay a $2.5 million annual licensing fee. The Greenbrier Resort’s fee is $500,000.