West Virginia online casino revenue endured another difficult month in June, generating right around $7 million. After several impressive months in a row, this now makes two straight that fell below expectations.
Revenue dropped another $700,000 from May when WV online casinos failed to reach $8 million in earnings for the first time in four months. This is the state’s slowest month since January 2022, when profits barely exceeded $6.8 million.
Part of the issue was the lack of a massive week. Casino platforms failed to reach $2 million in weekly revenue once last month. Before June, they topped that mark in 10 of the previous 18 weeks.
WV casinos had their best showing during the first week, with over $1.9 million. Unfortunately, revenue began to dip after that, settling at around $1.5 million in the final two reports.
While revenue took a step back, the online casino handle saw an uptick in June. Betting increased slightly, as WV platforms accepted nearly $218 million in wagers.
That was almost $5 million more than May and just $7 million from the record in the state.
A lackluster June for West Virginia online casinos
It wasn’t a great month for WV online casinos in terms of making money. The close to $7 million represented a 9% drop-off from the month prior.
Aside from not having one great week, their slow weeks were especially lackluster. Betting apps managed only slightly more than $1.5 million for the week of June 18, their worst revenue week since November 2021. The last week of June beat that figure by only $30,000.
As far as individual casinos are concerned, The Greenbrier earned a lot more than its competition, producing over $4 million last month. That was about $230,000 less than its performance in May.
Like the rest of the market, the private resort’s combination of BetMGM Casino WV and FanDuel WV struggled somewhat as well. They didn’t hit $1 million in either of June’s final two weeks. In the 18 weeks before that, BetMGM and FanDuel didn’t earn at least seven figures on just two occasions.
Hollywood Casino took second place for June revenue but also didn’t match where it was in May. DraftKings Casino WV and PointsBet Casino accumulated a little more than $2.1 million, about $300,000 short of the previous month.
After making at least $600,000 in three of the weeks in May, the betting apps never made it there in June. The month’s first and last weeks were around even as the best, each finishing around $575,000.
Unfortunately, Mountaineer also had a tough showing last month. Its online casinos totaled just over $750,000 in June revenue, coming up around $230,000 shy of the previous month.
Its two mobile apps, Caesars Casino WV and BetRivers WV, saw over $200,000 in two of the weeks; however, the week of June 25 was poor. The online casinos secured merely a little over $65,000, their first week below six figures since November 2021.
Online casino handle increases 2% in June
Surprisingly, WV online casino revenue fell, even with more overall gambling last month in general. The overall handle approaching $218 million was a 2% increase compared to the previous month.
Despite never passing $60 million in a single week, casinos were more consistent in June. They took at least $50 million in bets every week, with the week of June 11 around $59 million.
The Greenbrier set the pace once more, accepting slightly over $110 million. Again, this finished very close to the prior two months for the online handle, just about $600,000 less than May.
This marks five straight months with at least $110 million for BetMGM and FanDuel Casino.
Hollywood Casino gathered more wagers in June, beating its last performance by around $5.5 million. DraftKings and PointsBet Casino produced about $79 million in the overall handle.
The week of June 11 significantly bested the others, as their handle hit nearly $24.5 million. This is their best individual week since the one that ended on Christmas in 2021.
Mountaineer placed last among active casino license holders, coming up with around $28 million in June bets. This figure didn’t quite match May’s handle, missing the mark by about $200,000.
There is some reason for optimism for Caesars and BetRivers WV Casino, as the last week of the month did particularly well at more than $8.8 million. That is their busiest week since March 19.
Now that the fiscal year is complete, WV online casinos know exactly where they stand. They made almost $85 million in revenue over the last 12 months, with handles exceeding $2.54 billion in total wagers. Both figures are well ahead of the last fiscal year, as revenue jumped up 157%, while handle rose 120%.