The online casino revenue in West Virginia faced yet another challenging month in June, resulting in a meager sum of approximately $7 million. This marks the second consecutive month that failed to meet expectations after a series of promising months.
In May, the revenue for WV online casinos experienced a further decline of $700,000, marking the first time in four months that earnings did not reach $8 million. This month was the slowest for the state since January 2022, when profits barely surpassed $6.8 million.
One of the problems stemmed from the absence of a significant week, as casino platforms were unable to generate a weekly revenue exceeding $2 million during the previous month. However, prior to June, they had managed to surpass that milestone in 10 out of the last 18 weeks.
During the initial week, WV casinos experienced their most successful performance, generating a revenue of over $1.9 million. However, the following reports indicated a decline in earnings, stabilizing at approximately $1.5 million.
Although revenue declined, there was an increase in the online casino handle in June. Betting saw a slight rise, with WV platforms accepting almost $218 million in wagers.
It was nearly $5 million higher than May’s figure and only $7 million away from breaking the state’s record.
A lackluster June for West Virginia online casinos
WV online casinos didn’t have a profitable month as they experienced a 9% decline, with earnings dropping to nearly $7 million compared to the previous month.
With the exception of one outstanding week, their sluggish weeks were particularly unimpressive. Betting apps generated just over $1.5 million during the week of June 18, marking their lowest revenue week since November 2021. The final week of June surpassed that amount by a mere $30,000.
The Greenbrier casino outperformed its competitors by a significant margin, generating a revenue of over $4 million last month. However, this figure fell short by approximately $230,000 compared to its performance in May.
Similar to the overall market trend, the private resort’s BetMGM Casino WV and FanDuel WV also faced some challenges. They failed to reach the $1 million mark in the last two weeks of June. However, out of the 18 weeks preceding that, BetMGM and FanDuel achieved seven-figure earnings on all but two occasions.
In June, Hollywood Casino secured second place in terms of revenue. However, it fell short of its performance in May. DraftKings Casino WV and PointsBet Casino collectively generated slightly over $2.1 million, which was approximately $300,000 less than the previous month.
In May, the betting apps achieved impressive earnings of at least $600,000 in three different weeks. However, their luck took a downturn in June as they failed to reach those heights. The first and last weeks of the month were the strongest, with each ending at approximately $575,000 in earnings.
Regrettably, Mountaineer’s performance in the past month was also challenging. The revenue generated by its online casinos in June amounted to slightly over $750,000, falling short by approximately $230,000 compared to the previous month.
In the span of two weeks, the mobile apps Caesars Casino WV and BetRivers WV generated a staggering $200,000 in revenue. Unfortunately, their luck took a downturn during the week of June 25, as the online casinos only managed to rake in slightly over $65,000. This marked their first week with revenue below six figures since November 2021.
Online casino handle increases 2% in June
Despite an overall increase in gambling activities last month, it was surprising to see a decline in online casino revenue in WV. The total amount wagered, reaching approximately $218 million, marked a 2% rise from the previous month.
Casinos maintained a higher level of consistency in June, consistently raking in at least $50 million in bets every week. Although they never exceeded the $60 million mark in any given week, the week of June 11 saw a notable amount of approximately $59 million in bets.
Once again, The Greenbrier maintained its leading position by accepting a little over $110 million, closely trailing the previous two months in terms of online handle, with a difference of only around $600,000 less than May.
BetMGM and FanDuel Casino have now achieved a remarkable milestone of maintaining a minimum of $110 million in revenue for five consecutive months.
In June, Hollywood Casino surpassed its previous performance by approximately $5.5 million, collecting a higher number of wagers. The combined overall handle for DraftKings and PointsBet Casino amounted to roughly $79 million.
The week starting on June 11 outperformed all others with a remarkable handle of close to $24.5 million. This marks their highest weekly performance since the one that concluded on Christmas in 2021.
Mountaineer, the active casino license holder, ranked last as it recorded approximately $28 million in bets in June. However, this total fell short of May’s handle by approximately $200,000.
Caesars and BetRivers WV Casino have a reason to be hopeful as their last week of the month saw excellent performance, surpassing $8.8 million. This marks their most productive week since March 19.
After the conclusion of the fiscal year, WV online casinos have gained a clear understanding of their current position. Over the past 12 months, they have achieved a remarkable revenue of nearly $85 million, surpassing the previous fiscal year by a significant margin. Furthermore, the total wagers placed reached an impressive sum of over $2.54 billion. These figures indicate substantial growth, with revenue experiencing a remarkable 157% increase and handle rising by 120%.
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