The Virginia Lottery’s new online offerings are driving an increase in revenue for Fiscal Year (FY) 2021, which runs until the end of June. By February, online sales hit $436 million, about 21 percent of overall sales for that same period, according to lottery spokesperson John Hagerty.
“Fiscal Year 2021, which ends on June 30, is on track to break sales and profit records,” a Tuesday press release from the lottery states.
As part of a larger, ongoing process to bring mobile sports betting to the Commonwealth, the Virginia Lottery announced last week that it is currently reviewing 25 applications for permits, according to a news release.
Since legislation that allow for expanded gaming in the state was passed by the Virginia General Assembly last spring and became effective July 1st, the lottery has been working for months to implemented mobile sports betting as well as casinos.
The Virginia Lottery recorded $2.15 billion in sales during 2020, slightly lower than the 2019 figure, despite facing statewide shut downs in the spring and the growing economic downturn brought on by the coronavirus pandemic.
Kevin Hall, executive director of the Virginia Lottery, gave a presentation Tuesday to members of the Senate Finance and Appropriations Committee, providing updates on the current trend and forecast as well as the implementation of expanded gaming options coming to the state.