West Virginia Online Casino Revenue Fails to Meet Expectations – June ’21
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Despite the addition of two new online casinos to Mountain State, iGaming revenue in West Virginia fails to hit even $4 million, a disappointing run compared to May 2021.
The number of West Virginian online casinos has doubled since March 2021, with the addition of Rush Street Interactive’s Betrivers.com on April 12, and FanDuel Casino on May 7. While this sparked an increase in revenue to $4.3 million in May, the boost did not last long.
This June, a total of $3.9 million was brought in, 9% lower than the previous month. Furthermore, online casinos exceeded $1 million in revenue only two times in June, and revenue even falling below $900,000 on an occasion. Comparing this with May 2021’s online casino revenue of over $1 million in 3 out of 4 weeks, June 2021’s revenue was dismaying.
However, June’s betting handles were doing surprisingly well. Up 11% in betting since May 2021, online casinos in WV hit nearly $153 million in betting handles, the best ever in a single month. This amounted to at least $34 million wagered by West Virginians each week of June.
While the revenue dropping in Mountain State was undoubtedly a surprise, other states were hit equally badly. The five core casino states, West Virginia, Pennsylvania, New Jersey, Michigan, and Delaware, all suffered revenue losses about 6.4% down from June.
With more casino operators in West Virginia, we should see a bounce back in revenue next month.
