Resorts World New York City has projected that it will contribute around $2.5 billion to the Metropolitan Transportation Authority over the next four years.
The amount would...
New York sports betting sets April record with $2.15B
According to the New York Gaming Commission, sports betting generated a record $2.15 billion in wagers in April, making it the best-performing month since mobile betting’s debut in 2022.
April not only becomes the best-performing month till now but also becomes the seventh month in the last eight months to hit the $2 billion mark. Operators pulled in $192.7 million, more by 4.8% when compared to April 2024.
After a challenging March when the NCAA tournament harmed the state’s profits, April came in with much-needed numbers. The NFL Draft and the opening rounds of the NBA and NHL playoffs caused a 19% revenue jump from March’s $161.8 million.
When it comes to taxes, New York collected $98.3 million, yet in March the number was $82.5 million. This is due to the state’s hefty 51% tax rate on gross gaming revenue. Overall, New York strictly monitors the sports betting market. Earlier, the state faced debates on the proposed Bill NY A07692, which suggested daily betting restrictions at $5,000, with a ban on credit card deposits, and tightened rules around advertising.
Top 5 operators in New York
FanDuel kept its dominance with an $822.5 million handle and $84.8 million in revenue, its sixth $800 million+ month in the past seven. DraftKings comes next with a $727.3 million handle and $66.8 million in revenue. Fanatics Sportsbook, BetMGM, and Caesars rounded out the top five, each crossing the $150 million handle mark.
New York’s race for new commercial casino licenses has taken a turn after MGM Yonkers, a subsidiary of MGM Resorts, withdrew its application.
The exit narrows the field to...
