New York Reports Positive September Revenue for Sports Betting

The legal sports betting market in New York has started operating in July this year, and the statistics have been positive from the very beginning. The overall amount of generated revenue is $3.5m.

Comparing to the figures from August, individual revenue from each establishment increased. The four approved operators took in a combined $2.3m in sports wagering revenue, up 175.3% month-on-month, as two venues went public with their first full-month revenues for the vertical.

The statistics do not include contributions from tribal casinos in NY. As a small reminder, Oneida Nation launched legal wagering in collaboration with Scientific Games, at three of its facilities in the state to date.

Rivers Leads the Way

Following the success of two previous months, Rivers Casino & Resort Schenectady’s Rush Street Interactive-powered sportsbook gave the most significant contribution of $903,892, up 102.2% from August.

The second-placed del Lago Resort and Casino in Waterloo…

…brought in $836,929 in its first full month of sports wagering activities. That figure represents a 375.5% growth compared to August’s revenue.

This was based on only nine days of betting after the DraftKings-branded sportsbook at del Lago was launched on 23 August.

Positive Results for Resort World Catskills

The venue with the most noteworthy growth was Resort World Catskills in Monticello. It opened late in August but saw the month-on-month growth of 461.6% increase from $67,881 to $381,210.

This establishment features Betgenius and International Game Technology (IGT) content.

The only hub that did not report double growth for August…

…was Tioga Downs Casino in Nichols. However, the revenue from its FanDuel-branded sportsbook still increased by 22.6% to $161,834.

With Resort World Catskills leading the way with $113.2m, the four venues brought in a combined $323m in gross gaming revenue.

Mobile Still Not Official, Good Days for In-Stadium

Even though state Senator and Senate Racing, Gaming and Wagering Committee Chairman Joseph Addabbo, Jr have been putting plenty of effort, the fate of mobile sports betting is still unclear.

The NY lawmakers decided to omit this form of entertainment for the FY 2020…

…pointing out that the budget was already planned and established for the following 12 months.

However, the bill was amended so that it permits in-stadium wagering, but only in the counties where a stadium doesn’t have an existing . The facilities eligible to offer this form of gambling are Manhattan’s Madison Square Garden, Bronx’s Yankee Stadium, Brooklyn’s Barclays Centre, Buffalo’s New Era Field and Long Island’s Nassau Coliseum.

Addabbo pointed out that these activities if officially approved represent a great potential for more jobs and additional funding for education.

Source:

“NY sports betting revenue more than doubles again for September”, Daniel Oboyle, igbnorthamerica.com, October 14, 2019.