West Virginia Gambling Revenue Down For Last Fiscal Year

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West Virginia was one of the states that expanded their gambling industry last November in the hopes of raising revenue created from casinos. As of the end of June, the expansion has not paid off as revenue declined for the past fiscal year.

Revenue for the fiscal year that ended on June 30th was down $67 million from the same period the year before. The economic recession had hurt the industry, but it appears that competition from other states is doping larger damage to West Virginia casinos.

Pennsylvania and Ohio have both expanded their casino industry's as well, with four new casinos set to open in the next couple of years in Ohio. Columbus, Cleveland, Cincinnati, and Toledo will all have casinos to compete with West Virginia.

Pennsylvania has had some of the largest expansion efforts in the US. Lawmakers in Pennsylvania legalized table games such as blackjack and roulette earlier this year. The casinos started running the games in early July, and revenue from slot gambling had already increased late last year at Pennsylvania casinos.

The Greenbrier, one of the most famous resorts in the US, has built an underground casinos. Presidents, sports stars, and celebrities have all stayed at the Greenbrier, and many were on hand for the grand opening of the resorts new casino.

Additional hours were given to West Virginia casinos, and limits were raised on card games in the state. Last year, $656 million in tax revenue was made by West Virginia casinos, but that number is expected to drop over the next couple of years due to the competition.

July 25, 2010
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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