Two Years In, Greenbrier Dominates WV Rivals in Online Casino Revenue & Handle

Data show online casino revenue in West Virginia is up 71.3% year-over-year, while handle from sports betting is up 45%.
Two Years In, Greenbrier Dominates WV Rivals in Online Casino Revenue & Handle
By
July 20, 2022

Two years into West Virginia’s online casino gaming and sports betting markets, data from the West Virginia Lottery Commission (WVLC) show the Greenbrier — a nearly 110-year-old luxury resort near White Sulphur Springs — and its online partners are firmly in control of both markets in terms of revenue and handle.

West Virginia’s gaming laws allow the state’s five casinos and horse racetracks to have three skins each. The Greenbrier and the Hollywood Casino at Charles Town Races have three skins, while the Mountaineer Casino has two.

But the Greenbrier’s partners — BetMGM Casino WV, FanDuel Casino WV, and Golden Nugget Casino WV — have kept the private resort in first place in terms of online casino revenue for every month since October 2021. The three skins have also kept the Greenbrier’s market share in the vertical above 50% for all but two of the months since then.

Regarding handle from sports betting, the Greenbrier has been tops every month since August 2021.

Hollywood’s online casino partners — Barstool Casino WV, DraftKings Casino WV, and PointsBet Casino WV — have led the online casino market in revenue for a total of eight months, including the first seven after the market launched in July 2020. The last time it had the lead was September 2021.

Every month since July 2021, the three operators on the Hollywood license have come second to the Greenbrier trio in terms of handle.

Mountaineer and its partners Caesars and BetRivers have never led their rivals in terms of online casino revenue or handle.

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The Greenbrier is Far Ahead in Both Verticals

WVLC data show the Greenbrier had $46.1 million in revenue from online casino gaming during the year that began in July 2021 and ended in June 2022. That’s up from $16.6 million the year before.

By comparison, Hollywood had $29.7 million in online casino revenue from July 2021 to June 2022, up from $16.3 million in the prior year. Mountaineer was a distant third with $10.6 million in revenue, up from $902k.

A similar pattern has emerged in terms of handle from sports betting, with Greenbrier leading second-place Hollywood and third-place Mountaineer.

Handle totaled $1.3 million from July 2021 to June 2022 for Greenbrier, up from $468.1 million in the previous year. Hollywood’s handle grew to $985.6 million (up from $691.2 million), and Mountaineer handled $291.9 million in wagers (up from $18 million).

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Handle Down Slightly Month-Over-Month, But Up 45% Year-Over-Year

Online casino revenue totaled $7.6 million in June, down 10.6% from May ($8.5 million). Year-over-year, the vertical was up 71.3% ($4.4 million).

Greenbrier, Hollywood, and Mountaineer each saw month-over-month declines in online casino revenue in June. Greenbrier led the vertical with $4.3 million in revenue in June, but was down 10.5% ($4.8 million). Hollywood grossed $2.4 million, down 11.7% from $2.7 million, while Mountaineer saw $982k in revenue, down 8.3% from May ($1.1 million).

Handle also declined month-over-month, but not by as much. Hollywood and Mountaineer managed to claw some of the action away from Greenbrier in June. Year-over-year, handle was up 45% ($161.8 million).

The overall handle was $234.7 million in June, down 0.6% from May ($236.1 million). Greenbrier’s three operators cobbled together a $116.4 million handle in June, but that was down 6.1% from the month before ($123.9 million).

Meanwhile, the Hollywood trio’s handle was $85.4 million in June, up 5.7% month-to-month ($80.8 million). Mountaineer also saw a higher handle in June ($32.9 million), up 4.8% from May ($31.3 million).

Mountaineer more than tripled its handle year-over-year. The Greenbrier and Hollywood increased handle year-over-year by 39.2% and 20.5%, respectively.

If you or someone you know has a gambling problem and wants help, call the Virginia Council on Problem Gambling (VACPG) helpline at 1-888-532-3500

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