Honestly i get what Grumpy says but i say thats nothing that could not be sorted and slapped back together.
Grumpy is right, it will be a bit dodgy and screwdrivers in the ring grooves and grit in the engine will not see it live a long and happy life, but id put money on a good 5 years faithful service. Sure its knocked 20 years off but theres plenty of them.
Obviously theres a right way, and then theres the economical budget concious bodge it up way.
If that was my mower and i did not have the funds it woud go together exactly as i said above. Or another mower (donor motor) is $20 away and it could just need the carb cleaned out.
New crank bearings are $16 a pair from the place up the road. I can get you the part numbers if you want. A seller on eBay is selling the cheapest piston and rings sets ive seen for Victas. You could buy the rest of the O-rings head gasket etc out of the sore on the site here.
Cheers, Bob.