Sports Betting Revenue in New York Doubles in August

During the month of August, four commercial casinos in New York have collected a total revenue of $783,896, which is an increase of more than double, looking at it month-on-month. The NY market has taken a rather big advantage of del Lago Resort & Casino and Resorts World Catskills launch.

With these two casinos’ sportsbooks put in motion, the size of the sports betting market became twice as big, consequently resulting in a similar outcome in regards to turnover.

River Casino Leads the Way

The figures were presented by the New York State Gaming Commission…

…which reminded that August was also the first month of operations in Rush Street’s Schenectady Rivers Casino and Tioga Downs, whose sportsbook is operated by FanDuel.

The leader of the market is still Rivers, neatly positioned near Massachusetts, Connecticut and Vermont – all neighboring states. They contributed with $445,291 which is an increase of 51.3% since July.

Revenue in Tioga Downs also grew 59%, however, from a much smaller base – August’s figures amounted to $87,774.

Two Very Different Debutants

Del Lago was the most successful newbie among sports betting casinos – from August 23rd when it launched its sportsbook until the end of the month they managed to collect $182,950, which is an impressive feat. Located between Syracuse and Seneca County, their sportsbook is powered by DraftKings.

The second newcomer, Resort World Catskills, was nowhere near as successful…

…as they’ve only amassed $67,881, although their sportsbook went live even later than that of del Lago with official inauguration held on September 5th. Their sports betting technology was provided by International Game Technology and Betgenius.

Oneida Nation Contribution Not Taken Into Consideration

It must be noted, however, that these figures do not count the betting revenue collected by New York tribal casinos. Oneida Nation has launched sports betting in three of their properties to date.

They opened their SG Digital sportsbooks at Turning Stone Resort and Casino and Point Place Casino on August 1st. This was done in collaboration with Caesars Entertainment. Their third venue which has the biggest sportsbook in New York was launched on September 4th at Yellow Brick Road Casino.

Mobile Betting Still Hanging in the Balance

The fate of mobile sports betting in NY is yet unclear, because Senator, Joseph Addabbo’s amendment of the bill to include mobile wagering language, unfortunately, did not go as planned.

“From the beginning, I said we will not do a budget that fails to address three major issues that have evaded this state for decades – the permanent property tax cap, criminal justice reform and a Metropolitan Transportation Authority overhaul, including Central Business District Tolling.

I also said this budget must be done right – meaning it must be fiscally responsible and protect New York from the federal government’s ongoing economic assault on our state. I am proud to announce that together, we got it done,” says Andrew Cuomo, Governor the state.

Source:

“New York sports betting revenue more than doubles in August”, igbnorthamerica.com, September 9, 2019.