Casinos in New York Generate Nearly $350K in Revenue in First 16 Days of Regulated Sports Betting

New York’s launch of a regulated sports betting market was one of the most anticipated events of this year in iGaming. Now, the financial results of the state’s first 16 days of legalized sports wagering are in and the total revenue for the period amounts to $349,468.

In-person wagering was launched on July 16th at Rivers Casino and Resort Schenectady, operated by Rush Street Gaming. This operator took the lion’s share of the revenue, although FanDuel’s sportsbook at Tioga Downs Casino began operating the day after.

One Clear Winner

Rivers Casino and Resort generated $294,249 in revenue…

…compared to Tioga Downs which brought home only $55,219 (the official launch date of their sportsbook was July 19th, despite it running from the 17th). The said revenue was amassed until August 1st.

After Aug 1st, the amount of casinos offering sports betting in New York has doubled – Oneida Nation’s Turning Stone Resort and Casino and Point Place Casino have put their sportsbooks in motion. They both have a Caesars-branded sports lounge as this tribal operator has an ongoing partnership with this operator behemoth.

More Sportsbooks Coming

The coming months should see the expansion of the sports betting market in NY…

…Del Lago Resort & Casino in the Finger Lakes should see their DraftKings sportsbook opened. Their sportsbooks’ construction began in May.

Also, another casino is working on the launch of bet365-powered sportsbook – Empire Resorts’ Resorts World Catskills. However, the date of this opening is still undisclosed.

New York’s road to sports betting was a didn’t make it through the Assembly.

In-Stadium Wagering to be Allowed As Well

However…

…Senator Addabbo’s bill has been amended so that it allows in-stadium betting. However, this will be permitted only in NY counties where a stadium does not have an existing , such as Manhattan’s Madison Square Garden.

Bronx’s Yankee Stadium, Brooklyn’s Barclays Centre, Buffalo’s New Era Field and Long Island’s Nassau Coliseum are also eligible and Addabbo himself says that changes have been made as to address some worries from the previous bill.

“I continue to believe that legalizing sports betting, and enabling people to place wagers from their phones and other devices, has tremendous potential to create jobs and raise significant funding for education and other vital public programs. This amended bill expands on where and how an individual can place a sports wager,” he said

Source:

“New York casinos generate $349,468 from sports betting launch”, igbnorthamerica.com, August 19, 2019.