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Gaming NewsEstimates released for Wyoming lottery7 February 2007News Brief: It's possible that a lottery in Wyoming could generate $12 million in annual revenue and profits between $1.4 million and $3.6 million, according the nonpartisan Legislative Service Office. CHEYENNE, Wyoming – As reported by the Casper Tribune: " It's possible that a lottery in Wyoming could generate $12 million in annual revenue and profits between $1.4 million and $3.6 million, according the nonpartisan Legislative Service Office. "…The Legislature's Joint Appropriations Committee requested the analysis after representatives from a horse-racing operation said the cost to run a multi-state lottery could be much higher than initially predicted. "The owner of Wyoming Downs horse tracks in Evanston and Wyoming Off-Track Betting in Cheyenne, Casper and Rock Springs told the Joint Appropriations Committee Wednesday that lottery costs could range from $7.2 million to $9.87 million a year. "Eric Spector, president of the company, is fighting the lottery because he said it could devastate the business, which his California-based company bought for $20 million in September. "…Rep. Pat Childers, R-Cody, chairman of the Legislature's Travel Recreation, Wildlife and Cultural Resources Committee, said Spector's numbers are not accurate. "…According to the LSO report, Wyoming can expect to pay between $950,000 and $1.3 million to operate the lottery. "…House Bill 128 is scheduled for debate on the House floor next week." |