W.V. Lottery ends 3-year losing streak

Comment #9

Fondant — Sun, 31 Jul 2011 02:43:44 GMT

Ridge Runner -

Not only do I not carry balances on any cards I don't 'do' cards... cash basis baby! (now I am off to go and read about Harry S.W. Reid, so I can get abreast of these topics

Comment #8

rdgrnr — Sat, 30 Jul 2011 18:11:29 GMT

You're absolutely right Fondant.

Governments, state and federal, have been using the projected income scam to warrant reckless borrowing and spending for ages.

Harry (the slimy weasel) Reid is doing the same thing right now with his Senate bill on our way to a credit downgrading for the first time in our history while Obama smiles with approval. One of his projected incomes is the money saved by not getting into any more wars . Don't laugh, it's true. The libs love him.

I hope you don... [ More ]

Comment #7

Fondant — Sat, 30 Jul 2011 15:16:31 GMT

So, not to seem totally out of the loop, but shouldn't the government consider all lottery money as 'found' money not 'earned' money? Surely lottery money is a discretionary pool, as no one can predict with certainty who will part with their last saw-buck and who will use it as pillow stuffing...

So... surely making a budget item of proposed/expected lottery income is... less than fiscally responsible for a government agency? And doesn't that make the government, who is now claiming the righ... [ More ]

Comment #6

dallascowboyfan — Sat, 30 Jul 2011 00:25:37 GMT

WTG W.V.

Comment #5

sully16 — Fri, 29 Jul 2011 22:16:14 GMT

yep,

Comment #4

Coin Toss — Fri, 29 Jul 2011 20:14:30 GMT

Yeah, understood, Todd, but the article reminded of some of the stunts casinos pull.

Let's say you have a casino that grosses $3.2 million in June of 2009. Then let's say the same casino only groses $3.1 million in June of 2010. So for the quarter ending June of2010 they stiff their employees on profit sharing saying business is down . But all those at the very top get theirs, of course.

Let's call it voodoo accounting.

rdgrnr,

Well said. Not just gov't though. A few years after... [ More ]

Comment #3

rdgrnr — Fri, 29 Jul 2011 17:20:53 GMT

Things would go a lot smoother if politicians would stop telling business people how to run their businesses.

It shouldn't be any of the government's business if a business owner wants to sell food or not.

How can they make somebody sell something that they don't want to sell and then make them jump through

all kinds of legal and financial hoops to do it

Comment #2

Todd — Fri, 29 Jul 2011 14:21:44 GMT

Understood, but it really is appropriate, demonstrating the same trend found in other states: lotteries are doing quite well these days. West Virginia hasn't really shaken up its games in the last few years, yet they are turning things around, like other states have. This is big news in the W.V. state legislature, I am sure.

Comment #1

Coin Toss — Fri, 29 Jul 2011 14:14:12 GMT

That's a deceiving headline, it implies that the lotteey lost money three years in a row, but actually means that for three consecutive years years they didn't make what they made the previous year.

W.V. Lottery ends 3-year losing streak

Lottery Post — Fri, 29 Jul 2011 10:54:24 GMT

A three-year money-losing streak for the West Virginia Lottery has come to an end, as the agency saw an upswing in revenues for the just completed 2010-11 budget year, Lottery commissioners learned Tuesday.

Fueled by the enormous success of table games at Charles Town's Hollywood Casino, and by a surge in sales for traditional scratch-off games, the Lottery saw a 3 percent jump in total revenue for the budget year, for a total of $1.39 billion.

Things are picking up, it looks like, a litt... [ More ]