In April 2024, Mountain State saw a $6 million increase in revenue for the online casino segment. The number stood at $19.60 million. Revenue in April 2023 was around $13 million. However, it marks a downtrend when compared to the year’s monthly performance. Additionally, this is the first time that the online casino segment in West Virginia has seen a drop in revenue in 2024.
The year started with an increase of 3.24% in revenue as compared to the previous month, which was December 2023. West Virginia’s revenue for January 2024 was $16.36 million. That was followed by $17.46 million and $20.68 million in February and March, respectively. Hence, marking a monthly growth rate of 14.07% and 10.78% in the said months in the same order.
In April, revenue jumped on the lower side. Nevertheless, it still represents an increase on a yearly basis.
The performance of online casinos has been remarkable since July 1, 2023. Since that day, it has even contributed to taxes while banking a total revenue of $156.66 million. Online casinos in West Virginia have paid a total of $23.50 million in privilege taxes. This is in addition to the $19.77 million in taxes paid to the state.
A growing trajectory became more evident in the fourth quarter of the previous year, i.e. 2023. Numbers for October and December exceeded the mark of $15.5 million. This paves the way for a stronger record number in the upcoming months.
An ongoing performance comes after operators struggled to surpass the milestone of $10 million in the first two years. It was only in the second half of 2022 that the market began to grow, setting multiple records several times. Some of the best online casinos in the US have largely contributed to the growth of online casinos in West Virginia. Mountaineer, in association with Caesars & BetRivers, raised more than $3.18 million.
The Greenbrier, partnered with BetMGM, FanDuel, and Golden Nugget, recorded a monthly revenue of $7.84 million. The Hollywood Casino at Charles Town is second on the list with $7.83 million. Mardi Gras recorded the lowest number, $736k.
Moving forward, residents of West Virginia are looking to engage with online poker. Despite the legalization of the offering four years ago, operators failed to establish a listing. Mountain State has now entered into a Multi-State Internet Gaming Agreement, allowing online poker enthusiasts to compete against other players who reside in Michigan, Delaware, New Jersey, and Nevada. West Virginia entered into the agreement in November 2023.
The West Virginia Lottery’s Executive Director, John Myers, stated that they anticipate launching online poker sites later this year due to the lengthy process.
