The New Caesars Palace Online Casino Plans to Expand Market Share in WV
This week, Caesars Entertainment officially upped the ante on its online gaming commitment in WV by launching its new West Virginia online casino app.
The sportsbook product of the app, which contains a merged casino with restricted services, does not have a full-scale casino. Caesars Rewards Loyalty Program members are able to collect points and spend them equally in the Caesars Sportsbook and all Caesars retail casinos globally because the program is integrated into the app.
During the company’s Q2 earnings call, President of Caesars Sports and Online Gaming Eric Hession said that the new online casino offering provides a much better product and expanded marketing possibilities, all paired with the alluring advantages of Caesars Rewards.
Caesars is Going All in With New Content
Caesars Palace WV’s online casino debuted as the company reported a 27% rise in Q2 online gaming revenue. Prospects are expanding with the new app in ways that were not feasible with the sportsbook-casino app that was integrated. Hession said that, up until this point, the company’s technology had prevented it from effectively using segmented marketing. The company’s new technology will enable segmentation, reinvestment, and the utilization of many of these experiences, much as it does on the retail casino side.
Sportsbooks don’t provide as much of an income possibility as online casinos. According to the American Gaming Association, online casinos generated $1.99 billion in total revenue during the first four months of 2023 from only six states.
Sports betting produced $3.67 billion from 32 states with authorized sportsbooks, despite being unquestionably profitable. Since Nebraska’s introduction to the market in June, that number has increased to 33, and when sportsbooks begin their operation in Kentucky in September, it will increase to 34.