Government

V.I. Lottery to Target Illegal Gaming Through Legislation After Losing $80 Million as of 2021, Director Says

During a recent Senate committee hearing, V.I. Lottery Executive Director Raymond Williams outlined the transformative vision as he defended the fiscal year 2024 budget request. His plans involve significant revenue growth through innovative gaming strategies, a commitment to combating illegal gaming, potential infrastructure development, and a crucial reconsideration of the organization's financial partnerships. The intent is to continue uplifting local communities through various initiatives while making the Virgin Islands Lottery a leading choice in the gaming industry, he said. Chief Financial Officer Shalyn Proctor reported that V.I. Lottery expects to receive significant increases in revenues from gaming revenue – just over 47%, for a total sum of $13.3 million. Altogether, the board is expecting total revenues to hover just under $29 million. However, expenditures are also expected to rise to a total of $28.3 million, including a $900,000 to the general fund, and $100,000 to t...