New York betting revenue doubles in November

New York’s gross gaming revenue from sports betting in November doubled year-on-year.

According to the latest figures from the New York State Gaming Commission, sportsbooks in the Empire State generated $2.6m in gross gaming revenue (GGR) in November.

November’s figures are double the $1.3m generated this time last year and are on par with the $2.6m generated in October.

November marks the second month of land-based casino operations for New York’s commercial casinos after they were forced to temporarily close in mid-March due to the coronavirus pandemic.

How did each venue perform

The New York State Gaming Commission does not include sports betting handle in its reports, instead, it only displays sportsbook revenue.

Rush Street Gaming’s River Casino and Resort in Schenectady led the market again in November, generating $1.1m in sports betting revenue. This represented a 91.2% year-on-year increase and is level with the revenue generated in October.

The DraftKings-branded sportsbook at the del Lago Resort and Casino in Waterloo took second place in November with $949,710 in revenue. Revenue for the venue was up 312.8% year-on-year and 23.1% up on October’s revenue.

Tioga Downs Casino which hosts a FanDuel sportsbook took third place with $347,089 in sports betting revenue. 

Resorts World Catskills, the only other commercial casino with a sportsbook in the state, saw revenue slip 36.4% year-on-year to $274,324.

The New York State Gaming Commission’s report does not cover contributions from the state’s tribal casinos.

When it comes to the state’s tribal casinos, the Oneida Indian Nation’s Turning Stone Resort, Point Place Casino and Yellow Brick Road Casino offer sports betting in partnership with Caesars Entertainment. The Akwesasne Mohawk Casino has also selected up with International Game Technology to power its sportsbook operations.

Is Cuomo looking to sports betting for new revenue?

New York Governor Andrew Cuomo has suggested that sports betting could be used to help the state raise new revenue.

During a televised COVID-19 briefing yesterday, Cuomo said: “Are there other ways to get revenue? How about marijuana? How about sports betting?”

While this is far from a major endorsement for online sports betting in New York, it indicates that Cuomo is considering alternative revenue sources and may have relaxed his stance on regulating online betting. In the past, Cuomo opposed the regulation of online betting as he believed it would require a constitutional amendment.

In October, Cuomo revealed that the state of New York is more than $50bn in debt between the state and local governments and there is no clear indication as to whether the federal government will provide financial relief via a stimulus package.

As a result of this, Cuomo may be forced to expand sports betting in the state by legalising online and mobile betting to help generate additional revenue.

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