The online casinos in West Virginia had an incredible month of February. Their production flew past their prior record, posting an overall revenue of more than $8 million.
This total exceeded January’s profits by about $1.2 million while beating the previous record set in December 2021 by slightly over $1 million.
After only ever topping $2 million in revenue for a single week twice before February, last month produced two of its own. Its best performance came on the week of Feb. 19, when earnings bested $2.2 million during seven days for the first time.
The two weeks that didn’t eclipse $2 million weren’t bad, either. They both hovered around $1.8 million.
The Mountain State’s online casinos had a good showing in terms of betting handle as well. They accepted over $222 million in bets during February, falling just shy of December’s mark. Nearly $224 million was bet that month.
Still, it was a significant increase from January by almost exactly $30 million. With the massive month in the books, let’s take a closer look at February’s production.
West Virginia online casino revenue, February 2022
February set the new best for online casino revenue, seeing a 17% boost in profits compared to the month prior.
The private resort’s online options exceeded seven figures in weekly revenue three times before February started. FanDuel and BetMGM hit that number during three separate weeks last month.
Their profits increased each week, finishing with around $1.2 million on Feb. 26.
Hollywood Casino was next with more than $2.9 million. This result was about $400,000 better than in January.
Hollywood’s combination of DraftKings WV and PointsBet Casino WV never really approached $1 million in one week; however, they were consistent. The apps made at least $625,000 every week, with their best falling just short of $850,000.
Since PointsBet is still relatively new in the market, DraftKings is probably carrying a good portion of this total. Once it starts to hold its own, Hollywood should contend with The Greenbrier every month.
Mountaineer took a slight step back last month, taking in about $845,000 in revenue. This figure was almost $140,000 less than in January.
The BetRivers Casino WV and Caesars WV saw their combined earnings surpass $200,000 in three of the weeks. The one-off week did break a streak of seven consecutive weeks in which their revenue hit at least $200,000.
Through eight months of the fiscal year, WV online casinos are now responsible for more than $50 million in profits.
A look at handle for WV online casinos, February 2022
The lucrative month occurred thanks in part to the jump in betting. The total handle of over $222 million was an increase of 16% from January gambling.
February featured four weeks with a minimum of $54 million in overall handle, while the previous month never topped $50 million once.
The online casinos’ best showing slightly surpassed $57 million for the week of Feb. 19.
Similar to the revenue results, The Greenbrier’s two apps led all others in handle, too. They managed to bring in over $110 million in bets for the month, around $22 million more than January.
FanDuel and BetMGM saw more than $30 million in handle on Feb. 19 for just the third time ever in a single week. The other two instances occurred in October 2021.
Hollywood’s online casinos placed second last month at about $85 million. Although this figure improved from January, it was only by around $4 million.
DraftKings and PointsBet nearly reached $20 million every week but fell just short in the final week, with basically $19.5 million.
Mountaineer also produced more betting on its platforms despite finishing last. Caesars and BetRivers accounted for just over $26 million in handle. This is $4 million more than last month.
The online casinos took in at least $5.4 million every week, with Feb. 12 totaling almost $7.3 million.
More betting typically translates to additional revenue, so WV online casinos will have a few other months like these.
They’ve now accepted over $1.6 billion thus far in the 2022 fiscal year.