West Virginia Online Casino Gaming Revenue Rises to $16.2M in April, Fueled by BetRivers, Caesars Palace, Betly

WV News
 
West Virginia Online Casino Gaming Revenue Rises to $16.2M in April, Fueled by BetRivers, Caesars Palace, Betly
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Online casino gaming in West Virginia made $16.2 million in April.

This is a bit more than last year, with a 3.4% increase. The growth is mostly because of BetRivers, Caesars Palace, and Betly. Betly is new and works with Mardi Gras Casino.

Statewide, people bet $428.2 million. This is a 4% rise from the previous year. After taking out the costs of running things, the state got $2.1 million in taxes. The total for the year so far is $9 million.

But, April's earnings were 32.5% less than March's record of nearly $24 million. This happened because the casinos didn't make at least $20 million for two months in a row. This is the first time this has happened in West Virginia since online gaming started in July 2020.

All four casinos with online gaming licenses made less money in April than in March. But, only Mountaineer Casino, where BetRivers and Caesars Palace Online are, made more money than last year. The casino's winnings were $2.6 million, which is a 16.2% rise from April 2023. Bets at these two sites were $69.3 million, a 33.9% increase from last year.

Hollywood Casino at Charles Town, which has DraftKings and Fanatics Casino, made less money than last year. The income from the two sites went down 3.7% to $6.4 million. This happened even though betting went up 4.5% to $170.4 million. For the first time since last October, Hollywood didn't have the biggest drop among the four license holders.

The Greenbrier, which has FanDuel, BetMGM, and Golden Nugget, saw a 12.2% drop from last April. Its earnings went down only 2.8% to $6.5 million. This made The Greenbrier the top earner for the first time since January.

In April, Betly made $611,800. Its total earnings are over $5 million in its 11th month. This was its second-best month since it started. It's the third-highest in terms of bets.

Even though growth was slower in April, both betting and earnings have gone up a lot in the first four months of the year compared to the same time in 2023. The earnings of $70.8 million are a 36.6% increase. Taxes are already $2.4 million more than last year. They are expected to be over $7 million more than the nearly $20 million collected in 2023.