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Audit: W.Va. Casinos in Good Shape Despite Losses


An audit of West Virginia's casinos says each facility's financial condition is sound, despite revenue losses.

The audit by Charleston accounting firm Gibbons and Kawash says the casinos' total revenue dropped by more than $140 million between the 2012 and 2013 fiscal years. It cites competition from casinos in Maryland, Ohio and Pennsylvania.

Hollywood Casino at Charles Town Races experienced the largest revenue decline. Its revenue fell from $546 million in fiscal 2012 to about $456 million in fiscal 2013.

The audit's findings were presented to the West Virginia Lottery Commission on Monday. The commission voted to reissue table games licenses to all five casinos.

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