West Virginia Online Casinos Sustain Mild Drop In January Revenue

Written By Chris Imperiale on March 7, 2022 - Last Updated on March 20, 2022
Online casino business sees a slight slump in January revenue

Despite not matching their record-setting month to close out 2021, West Virginia online casinos’ revenue continued strongly in a successful January.

Although betting fell just short of December figures, revenue exceeded $6.8 million. This was about $160,000 less than the month prior.

Still, it was a profitable showing for the Mountain State, which is trending upward recently. The market also added a new platform at the end of January with PointsBet Casino WV.

Although its earnings weren’t available for the majority of this past report, it’s another quality option for those in WV.

The state’s apps were consistent again, seeing at least $1.5 million in revenue during each week. They even surpassed $2 million for the week of January 29. This is just the second time the online casinos accomplished that and the first time since October 2021.

The betting handle didn’t reach where it was in the previous month, either. It hit slightly over $192 million, around $30 million shy of the current record.

Let’s examine the figures more closely and rank the individual operators.

West Virginia online casino revenue, January 2022

When comparing the last two months, January’s revenue dropped about 2%. While going backward is never ideal, figures were right behind the WV casinos’ best month to date.

They’ve now earned a minimum of $1 million in revenue in 18 consecutive weeks.

Even though the month wasn’t as profitable overall, it did finish on a high note with more than $2 million in the final week.

The Greenbrier and its two mobile betting apps led the way again with about $3.3 million in January. This figure wasn’t quite where it was in December, but the private resort still finished in first by a sizeable margin.

Its combination of BetMGM WV and FanDuel Casino WV made at least $650,000 each week. They earned more than seven figures for only the third time in a single week on January 29.

Hollywood Casino’s two online platforms were next, totaling almost $2.5 million. This was just about $75,000 less than its revenue in December.

Hollywood used only one of its mobile licenses with DraftKings Casino, up until this latest release with PointsBet. This should help it close the gap with The Greenbrier significantly.

With DraftKings as its main source, Hollywood created at least $500,000 in profits every week.

Mountaineer placed in last in terms of monthly earnings; however, it was the only establishment to see an increase in revenue. Its profits grew by almost $100,000, to $982,000 in total.

Its apps, BetRivers WV and Caesars Casino WV, recorded profits of more than $215,000 each week, including topping $300,000 for Jan. 8. This was their best performance ever.

WV online casino handle, January 2022

For whatever reason, betting slowed down in WV in January. The handle decreased 14% from the previous month.

After accepting over $50 million in wagers in seven consecutive weeks, WV casinos didn’t register that amount once to start the new year. The month’s first two weeks hovered around $47 million, while the final two eclipsed $49 million by just a small margin.

The beginning of January was the slowest it’s been since the first week of November 2021.

Again, The Greenbrier took the top spot for handle this month, with about $88 million. This figure dropped off around $17 million when looking at the last two months for the resort’s online casinos.

Although they reached at least $20 million every week, the handle never approached the $28 million they saw in December.

Since posting back-to-back weeks with over $30 million in bets in October, they haven’t hit that mark in 16 reports straight.

Still, it was good enough to take first over Hollywood’s almost $82 million. This was about $12 million less than it received last month.

Even though Hollywood is still looking up at The Greenbrier with handle, there’s lots of reason for optimism.

The addition of PointsBet should show in its results shortly; plus, the apps are already headed in the right direction. Their handle increased each week, finishing with more than $21 million.

Even though Mountaineer’s options with BetRivers and Caesars earned more revenue, they took a step back with monthly betting. Their handle totaled just over $22 million, compared to around $25 million.

The online casinos’ best week topped $6 million, following a month in which it went over $8 million.

As a whole, WV’s online handle sits at well over $1.5 billion, with its revenue at nearly $50 million during this fiscal year.

Photo by Fer Gregory / Shutterstock.com
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Chris Imperiale

Chris Imperiale covers sports betting and the online casino industries. He has a journalism degree from Rutgers University and was formerly on staff at Bleacher Report.

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