Browse articles by topic

WV sports betting off to strong start in new fiscal year


West Virginia’s sports betting market has reported revenue of $704,475.03 for the first five weeks of the state’s fiscal year, with Penn National Gaming’s Hollywood Casino at Charles Town Races maintaining its leadership of the market. 

For the five weeks to 3 August, beginning from the start of the state’s 2020 fiscal year on Monday 1 July, taxable revenue generated in the state came predominantly from the Penn National venue, which accounted for $539,879.54 of the total.

Customer stakes amounted to $7.6m over the period, with Hollywood Casino accounting for $6.0m of this sum.

The operator, which has partnered DraftKings for its sportsbook offering in the state, generated the bulk of revenue over the week to 20 July, when revenue hit $274,305.20. This followed a difficult week to 13 July, in which it posted a loss of $70,437.89. 

Coming second once again was the William Hill Sports Book at Mountaineer Casino, with revenue of $109,544.94. The venue had a slow start to the fiscal year but saw revenue grow, hitting a high of $41,187.85 for the week to 27 July. 

Mountaineer Casino’s sports betting revenue hit $33,128.35 for the week ended 3 August, the highest total of any licensed operator in the market. In comparison, Hollywood Casino’s revenue for that week came in at $784.90. 

The Greenbrier, the private resort owned by West Virginia Governor Jim Justice, saw revenue for the five-week period reach $63,269.75. It was hit by two weeks of losses, with customer winnings resulting in a deficit of $10,008.50 for the seven days to 13 July, then $11,651.75 for the week to 3 August. 

The Delaware North-owned Mardi Gras and Wheeling venues, which shuttered sports betting in March amid an ongoing dispute with technology partner Miomni, both made losses as a result of previously placed wagers. 

Wheeling paid out $1,923.30 – of which $1,233.00 was won from bets placed via mobile devices in the short period from December to March, when the Momni-powered BetLucky app was live – in the week to 13 July. Mardi Gras, on the other hand, paid out $6,295.90 over the five weeks, of which $1,505.85 was for mobile wagers. 

Image: Wikimedia Commons