Analysis of Fiscal Year 2003 Lottery Sales in the City of Pflugerville and “Racino” Sales Comparison At 93% prize payout, Racinos/VLTs venues require.

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Presentation on theme: "Analysis of Fiscal Year 2003 Lottery Sales in the City of Pflugerville and “Racino” Sales Comparison At 93% prize payout, Racinos/VLTs venues require."— Presentation transcript:

1 Analysis of Fiscal Year 2003 Lottery Sales in the City of Pflugerville and “Racino” Sales Comparison
At 93% prize payout, Racinos/VLTs venues require a significant increase in the amount of annual sales to generate the same amount as the Lottery where the prize payout is 58%. In FY 03, there was over $3.5 million wagered on the Texas Lottery in the City of Pflugerville (1) . These sales generated approximately $1 million in revenue to the State of Texas (2). To generate the same amount of revenue to the State of Texas in a “Racino” gaming venue, over $25 million would have to be wagered (3). . Sources: (1) Texas Lottery Commission FY03 Retailer and Sales Data (2) , According to the Texas Lottery Commission, .30 of every dollar is returned as revenue to the State of Texas (3) Based on proposed 60/40 revenue sharing plan between State and Horse Tracks.

2 Analysis of Social & Economic Costs to City & County Governments, Business, and Citizens of Pflugerville Assumes only 1% of the Population of Pflugerville becomes Pathological Gamblers Sources: National Gambling Impact Study (1999) Earl L. Ginols and David B. Mustard, Business Profitability versus Social Profitability: Evaluating Industries with Externalities, The Case of Casinos, Managerial and Decision Economics (2001). Henry R. Lesieur & Kenneth Puig, Insurance Problems and Pathological Gambling, 3J. Gambling Behavior (1987)


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