Online casino operators in West Virginia finished 2023 strong and set a new yearly revenue record in the process. The Mountain State generated $157.2 million in total online casino revenue.
WV online casinos had a terrific Q4, which catapulted operators over the illustrious milestone.
Mountain State operators deliver new online casino revenue record
Back in October, PlayWV reported that online casinos were on pace to produce nearly $150 million in 2023 revenue. To be exact, through September, operators were scheduled to record $148.7 million. However, thanks to a strong fall, online casinos finished the year over the $150 million threshold.
The state broke two monthly records in the process, coming in October and December. Here are the monthly revenue totals for Q4 2023:
- September: $12.7 million
- October: $15.5 million
- November: $14.4 million
- December: $15.9 million
Whether operators had broken $150 million or not, 2023’s performance still would have been a yearly record for the Mountain State. However, crossing the mark is certainly a worthwhile milestone.
Operators have come a long way since launching in the summer of 2020. Here are the annual revenue totals since:
- 2020: $7 million
- 2021: $55.8 million
- 2022: $112.6 million
- 2023: $157.2 million
Platforms in the state averaged $13.1 million in monthly revenue last year, which is up from the $12.4 million they averaged through September.
LEARN MORE ABOUT ONLINE CASINOS:
Breakdown of the Mountain State’s online casino revenue in 2023
The West Virginia Lottery organizes revenue by the licensee and not by operator. Retail casinos within the state are able to partner with multiple operators. Here is the breakdown of revenue by licensee:
- The Greenbrier (FanDuel WV Casino, BetMGM WV Casino, Golden Nugget WV Casino): $71 million
- Hollywood Casino Charles Town (DraftKings WV Casino, Fanatics, Hollywood, PointsBet, Barstool): $60 million
- Mountaineer Casino (Caesars WV Casino, BetRivers WV Casino): $23.6 million
- Mardi Gras Casino (Betly): $2.7 million
The analysis encapsulates all of the operators that contributed to the 2023 total, even the ones that exited.
The market experienced some moving parts, especially toward the end of the year. PointsBet and Barstool left the industry, as the state welcomed Fanatics and Hollywood as replacements.
Both of the new platforms just had December as the only full month of operation. While Fanatics is expected to be a big player in the gaming space, it did not create much of an impact last month. It’s going to take some time.
West Virginia’s run at the end of 2023 bodes well for the future. There appears to be plenty of growth still left within the market. Shooting for $200 million looks like a realistic goal operators could hit in 2024.
