January proved to be a better month for the regulated retail sports betting industry in New York, with four sportsbooks from the state producing a total gross gaming revenue of $3.57m. While it paled into almost insignificance compared to neighboring New Jersey, since legal sports betting started in July 2019, it was a record figure for the state.
Promising revenue spike
The four books only produced $2.3 million in December 2020, according to reports by LineUps.com. “The New York budget is at a deficit of $15bn, so this revenue spike is promising,” it noted. “It also should allow mobile sports betting to gain traction in the state legislature.”
LineUps went on to report that in January, Rivers Casino created the most revenue compared to the other three commercial casinos in the state, with record revenue months witnessed by Del Lago Casino and Tioga Downs Casino, though falling short of Rivers. Resorts World Catskills had its second-best month since retail sports betting was launched.
The site commented: “Rivers’ previous monthly revenue record was just over $1m in October of 2020. That record made sense because playoff baseball and basketball were occurring in addition to football. In January, Rivers shattered this previous best by generating $1.429m. Del Lago Casino broke $1m in revenue for the first time since sports betting was legalized. The sportsbook came in at $1.27m in gross gaming revenue.”
World Catskills resorts came close to surpassing $500,000 in revenue, falling short of that figure by $30,000. The highest recorded monthly total ever stands at $506,380. Tioga Downs recorded the smallest figure of $390,349 in gross gaming revenue, more than $40,000 higher than the previous record of the book, despite setting an individual record.