Online Casinos Revenue in West Virginia Reaches Almost $24M in March

Article by : Erik Gibbs Apr 16, 2024

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March proved historic for the West Virginia Lottery as internet casino revenue soared to unprecedented heights, surpassing the $20 million milestone for the first time. Operators raked in nearly $24 million in revenue for the month, marking an astounding 87.1% surge compared to the previous year.

This achievement shattered the previous record set in December at $18.2 million and marked only the third instance since its launch in July 2020 that revenue exceeded $15 million.

Moreover, the drop, or the total amount wagered, soared to an all-time peak of $567.1 million, representing a staggering 57% surge from March 2023. This milestone saw the state surpass the half-billion-dollar mark in wagering for only the second time in its history, with the previous record set in December at $501.2 million.

In terms of taxation, the state pocketed a substantial $3.1 million after deducting a 15% administrative fee, bringing the total tax revenue for the first quarter of the year to nearly $7 million.

This robust tax revenue indicates a promising start to the year for West Virginia, especially considering that it received almost $20 million in state taxes from internet casino gaming for 2023.

In a personal best, Hollywood Casino at Charles Town soared to new heights, nearly reaching the elusive $10 million mark in monthly revenue, falling short by a mere $42,000.

Bolstered by its affiliation with DraftKings and Fanatics Casino, the casino witnessed a staggering 89.6% surge in revenue compared to the same period last year, smashing through the previous record of $6.7 million set in April 2023.

This feat marked the fourth consecutive month that Charles Town exceeded $6 million in revenue, underscoring its sustained success in the industry. Additionally, the casino experienced an unprecedented drop of $233.7 million, surpassing the previous record of $217.3 million wagered in December.

Not far behind, The Greenbrier, renowned for its opulence, achieved its all-time high revenue of $9.3 million, trailing closely behind Charles Town’s stellar performance.

Moreover, a significant milestone was reached as the combined revenue from online casinos such as FanDuel, Golden Nugget and BetMGM soared past $200 million for the first time, with the March drop reaching an impressive $223.8 million.

Mountaineer Casino achieved an all-time revenue peak of $3.9 million, doubling its earnings from the previous year. It also saw an $89.9 million increase in wagers, ranking second-highest in history.

Mardi Gras Casino celebrated its first successful year online, with revenue reaching $846,411 and wagers totaling $19.8 million. Betly’s online platform also saw a significant breakthrough, exceeding $500,000 in revenue for the first time.