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Virginia ABC Releases Unaudited Financial Results for FY2023 | Williamsburg Yorktown Daily

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Virginia ABC Releases Unaudited Financial Results for FY2023 | Williamsburg Yorktown Daily


MECHANICSVILLE — The Virginia Alcoholic Beverage Control Authority (ABC) released its unaudited financial results for fiscal year 2023 after the ABC Board of Directors adopted a revised fiscal 2024 budget.

Fiscal Year 2024 Budget

According to the ABC, the board adopted an amended budget on Tuesday that projects profits from retail sales of $244.3 million, a $24.3 million increase over fiscal 2023 results. The adopted budget forecasts a 5.1% growth in revenue while focusing on investing in ABC teammates, maintaining core business systems and continuing to enhance regulatory services to ABC licensees, it added.

“The ABC Board met and unanimously approved a new FY 2024 budget for ABC that will deliver $244.3 million to the general fund of the Commonwealth,” said ABC Chairman Tim Hugo. “This result was thanks to the collaborative efforts of ABC’s executive leadership team working with the Governor’s administration.  This revised budget will strengthen ABC and serve our Commonwealth.”

The board also adopted its five-year forecast that will be used to inform the upcoming biennial budget submission, ABC said, adding as part of that forecast, the authority will continue to focus on growing revenues while controlling costs and enhancing its service to licensees.

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Fiscal Year 2023 Results

Fiscal 2023 results show gross revenue of $1.5 billion, up $54.3 million over fiscal 2022 ABC said. ABC revenues include the sale of distilled spirits, Virginia wines and mixers and the collection of license fees and other miscellaneous revenues.

Each year, per the Code of Virginia, Virginia ABC noted it remits earnings to the commonwealth for designated state programs and services. For fiscal 2023, ABC said it contributed a total of $609.7 million, an increase of $2 million over the previous year, excluding a one-time net gain of $15.1 million in fiscal 2022 from the sale of ABC’s old corporate headquarters and warehouse. This reflects $220.6 million in profits from retail sales, $307.7 million in taxes (retail) and $81.4 million collected in wine and beer taxes.

”Virginia ABC continues to focus on its mission of strengthening the commonwealth through public safety, education and revenue from the responsible regulation and sale of alcoholic beverages,” said CEO Travis Hill. “Providing these essential services to all Virginians is only possible thanks to our dedicated workforce and their tireless commitment to service.”

Sales trends

ABC reported overall sales revenue for the authority in fiscal 2023 grew by $54.3 million to $1.472 billion. Total sales volume grew from 6.32 million cases to 6.46 million cases. Throughout the year, sales rose on each day of the week, except for Thursdays.

Sunday sales increased by $3.4 million to $12.3 million, Virginia ABC said, while Saturday led all days with $280.4 million of sales.

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Sales to licensees increased by $20.9 million to $250.4 million, it said, indicating the continued strength of Virginia’s hospitality industry. Sales to retail customers also increased by $44.6 million, to $1.18 billion. Online sales totaled $8.8 million.

Virginia ABC said it has transferred over $900 million in profits to the commonwealth in the last four years, exceeding its profit transfer requirement — an amount set in the Commonwealth’s biennial budget that is adopted by the Virginia General Assembly — in each of those years. The authority has contributed $77.6 million above that requirement during that period.

Virginia ABC’s final, audited results will be released in the fall. For more information about ABC’s sales and revenue, visit abc.virginia.gov.



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Virginia Tech Football: Three Keys to Victory for the Hokies on Saturday vs Virginia

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Virginia Tech Football: Three Keys to Victory for the Hokies on Saturday vs Virginia


The rivalry matchup between Virginia Tech and Virginia is nearly 48 hours away and it is a big matchup for both teams. The Hokies and the Cavaliers are both 5-6 and needing a win to make a bowl game. The loser will be getting a headstart on 2025 instead of playing in the postseason.

At the start of the year, Virginia Tech was being talked about as one of the biggest surprise teams not just in the ACC, but in the country. This team’s biggest goals have gone away, but they still have an opportunity to reach a bowl game for the second straight season. That should still be a big deal to the program, but on the other side, the Cavaliers are trying to make a bowl game for the first time under Tony Elliott. They are going to be fired up about playing in this game and having a chance to make a bowl game, so Virginia Tech can’t take it for granted, no matter their past success vs Virginia.

So what are the keys to a win for Virginia Tech on Saturday?

Before you could even blink on Saturday night, Virginia Tech was trailing Duke 14-0 thanks to two long touchdown plays and the Blue Devils have not been a very explosive offense this season. Virginia has found a way to put points on teams like Clemson and Louisville this season and has improved since last year. The Hokies’ pass rush was non-existent on Saturday vs Duke, finishing with no sacks and being unable to disrupt Duke quarterback Maalik Murphy. They will have to be able to play better on Saturday if they want to avoid the upset.

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It is still up in the air who is going to play quarterback for the Hokies on Saturday night, but whoever it is would benefit from a big game from one of the nation’s best running backs. Tuten had 84 yards on 19 carries last week, but Virginia Tech might need more than that on Saturday when the face the Cavaliers.

Our own RJ Schafer wrote this about the quarterbavck situation heading into Saturday’s game:

“Brent Pry listed both Kyron Drones and Collin Schlee as questionable ahead of the historic matchup. He added that both will practice, although very limited, and they could “just be watching” from the sidelines.

Coach Pry also added that Virginia Tech is preparing four quarterbacks to be ready to play this weekend, including Davi Belfort, a freshman quarterback from Brazil, a country which could begin to be the future of American college football.

Whoever plays this weekend is going to have to have to manage the game and not turn the ball over. I think the offense is going rely on the run game heavily this weekend due to that.

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Additional Links: 

Virginia Tech Football Releases Depth Chart Ahead of Matchup Against Virginia

Virginia Tech Football: PFF Grades and Snap Counts For Every Player in Saturday’s Loss to Duke

Virginia Tech Football: Updated Bowl Projections For The Hokies Heading Into Final Game



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Big Tests On The Horizon For Virginia Tech Wrestling – FloWrestling

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Big Tests On The Horizon For Virginia Tech Wrestling – FloWrestling


At 3-0 with marquee victories over #6 Missouri (23-10) and #21 Rutgers (26-11), as well as a second-place finish in the Keystone Open with just a handful of starters competing, Virginia Tech has swept through a tough November and is prepared for a difficult December.

The Hokies, #12 in Flo’s team tournament ratings but top 10 in various dual-meet rankings, are next scheduled for an annual trip to Las Vegas for the Cliff Keen Invitational, featuring 27 teams, of which 14 are among Flo’s top 25. And then it’s another trip west to Stillwater on Dec. 19 to challenge #5 Oklahoma State in a rare Thursday match.

The early key thus far for the Hokies has been the ability to win the bouts they’re supposed to win and grabbing a fair share of so-called toss-up bouts.

To wit, Tech’s #18 Sam Latona downing Missouri’s #13 Josh Edmond (4-2) at 141, or #25 Rafael Hipolito majoring the Tigers’ #32 James Conway (11-3) at 157 and #15 Jimmy Mullen stopping #20 Seth Nitzel (4-2) at heavyweight.

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That trend continued at Tech’s Moss Arts Center match against #21 Rutgers when Latona used a late takedown to defeat Joey Olivieri 7-5, #4 Lennox Wolak pinned veteran Jackson Turley at 174 and #9 Andy Smith slipped past #17 John Poznanski 4-3 at 197.

Hokies coach Tony Robie only took a few regulars to the Keystone Open in Philadelphia and, led by championship efforts by #1-ranked Caleb Henson at 149 and heavyweight Hunter Catka, Tech placed second behind Lock Haven. Latona placed third at 141 and Sam Fisher did the same at 184.

Robie opted to use the Hokies’ roster as freshmen Dillon Campbell (125), Matt Henrich (157), Luke Robie (157) and Jack Bastarrika (133) competed as did redshirt juniors Jackson Spires (165) and Ty Finn (174). Spires placed second.

Who’s Ready For Change?

With legislation on the NCAA’s table affecting scholarship and roster limits — unlimited scholarships and a roster cap — as well as revenue sharing, some college wrestling programs likely have a serious dose of trepidation while others are confident they can deal with whatever happens.

Virginia Tech sits in the latter category.

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“I have no concerns whatsoever about that,” Robie said earlier this month. “I think a lot of it probably will happen. It’s hard to say whether it’s good or bad for the sport; that’s not really for me to say. What I will say is you have to adjust with what the rules are and what the landscape of college athletics looks like, and that’s what we intend on doing. 

“Is it good for the overall health of the sport of wrestling? The kid that’s the 35th kid on your roster? Probably not. But I think definitely there were probably some things that needed to change; the pendulum was starting to swing significantly the other way. At some point, it’ll probably start to go back to the middle.”

Robie said all anyone can do is wait for the final decisions. 

“We have some contingency plans based on what we think is going to happen and we’ll move forward with our plan and try to execute it,” he said.

A Pretty Good Gig

Robie, in his eighth year as head coach, has been at Tech since 2006 and as each season passes, the commitment and enthusiasm remain the same.

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“Well, you get to do what you like to do. And it’s a pretty cool thing to be able to coach wrestling for a living and be a part of a pretty good program, and work with some great people and try to affect the lives of the kids in your program,” he said.

“I think anybody would want to do that. For me, I’m not young anymore. I turned 50 … who knows how long I’m going to do it, but I’m going to give it the best I can while I’m doing it and hopefully continue to improve as a program and try to try to help these guys as much as possible. But it’s good, Virginia Tech’s a great place to work, it’s a great place to live. I’ve got a great staff and it makes my life pretty easy.”





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VIDEO: UVA Football Players Preview the Virginia Tech Game

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VIDEO: UVA Football Players Preview the Virginia Tech Game


With the game of year looming this weekend, members of the Virginia football team were made available to to the media after practice on Tuesday morning to talk about the regular season finale against Virginia Tech in the Commonwealth Clash on Saturday night in Blacksburg. Watch the video below to hear what UVA senior safety Jonas Sanker, graduate tight ends Tyler Neville and Sackett Wood Jr., and graduate defensive tackle Jahmeer Carter had to say ahead of the Virginia Tech game:

Sanker is the team’s leader in tackles with 89 total tackles and also leads the ACC in solo stops with 60 unassisted tackles. He has racked up 8.5 tackles for loss, two sacks, four pass breakups, two fumble recoveries, and an interception as part of a strong senior campaign that should earn Sanker some serious consideration for a First-Team All-ACC selection.

A transfer from Harvard, Tyler Neville is Virginia’s second-leading receiver with 35 catches for 387 yards and two touchdowns. Sackett Wood Jr., meanwhile, has recorded three receptions for 18 yards and a touchdown this season. Between the two of them, Neville and Wood have combined to appear in 83 college football games and make 48 starts.

Saturday will be the 55th game in the five-year career of Jahmeer Carter, who has started nearly every game for the last four seasons at Virginia. This season, Carter has 30 total tackles, including nine solo stops, two tackles for loss, one sack, and a pass defender. For his career, Carter is up to 131 total tackles, 2.5 sacks, and 7.5 tackles for loss.

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Saturday night will be the first time Virginia plays at Lane Stadium in front of fans since the 2018 season, as the 2020 edition of the Commonwealth Clash was played in front of only 250 fans due to COVID-19 restrictions and then the 2022 Virginia vs. Virginia Tech game was canceled due to the shooting tragedy at UVA.

Virginia is seeking its first road victory at Virginia Tech since 1998, as the Hokies have won the last 11 Commonwealth Clash games played at Lane Stadium. Virginia Tech has won 17 of the last 18 overall games against Virginia and leads UVA 61-38-5 in the all-time series that dates back to 1895.

Both Virginia and Virginia Tech bring a 5-6 overall record into the regular season finale and both need to win the game in order to reach the six-win threshold required for bowl eligibility. There is only one other game this weekend between FBS teams who are battling for bowl eligibility (Eastern Michigan vs. Western Michigan). Virginia and Virginia Tech played each other for bowl eligibility at the end of the 2014 season.

UVA Football: Players to Watch in Virginia vs. Virginia Tech

UVA Football Week 14 Injury Report: Kobe Pace, Kempton Shine, Trell Harris

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Virginia Football Depth Chart vs. Virginia Tech | Takeaways, Analysis

Virginia Football Opens as Touchdown Underdogs at Virginia Tech

UVA Football Report Card: Handing Out Grades for Virginia vs. SMU



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