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Officials within the gaming industry in New York had something to celebrate this week reporting a record in its revenue recorded for January 2021 with a combined $3.570 million collected from their four upstate commercial gaming facilities.
However, the overall joy in New York is still very muted as the state awaits settling a much larger issue knowing the potential profits it can potentially achieve passing legislation allowing for online wagering. With most US states currently accumulating an average of 85-90% of their sports betting handle through mobile access, it is easy to understand their hesitation.
January figures marked a major increase over January 2020’s total of $1.943 million in gross gaming revenue (GGR).
Although it is difficult to document, numbers also could be tilted forward due to more encouraging signs New York is moving ahead toward legalizing online wagering. Most recently New York Governor Andrew Cuomo has reversed his stance on the issue, seeking the best plan to introduce mobile betting within the state.
Cuomo has acknowledged the $15 billion deficit in the state’s budget where online gaming could help, however, his proposal differs greatly from other proposals on the table within the New York State Assembly. Much ongoing discussion remains on the subject before any final decisions are likely to be made.
The January record in New York was a team effort as all four sportsbook locations had record achievements.
Del Lago Casino and Tioga Downs Casino both accomplished record revenue marks in January, while Resorts World Catskills experienced its second-highest monthly revenue.
Rivers Casino and Resort led the way in GGR for January with $1.429 million. Their previous sportsbook record was $1.074 million, set in October 2020. The monthly figure was up from a $950,000 number in December.
The New York State Gaming Commission (NYSGC) ranked Del Lego Casino and Resort second. The Waterloo, NY facility that houses a DraftKings Sportsbook. came in second with $1.27 million, topping their record high of $949,710 from November.
Next was Resorts World Catskills with $479,557 in January revenue, recording their second-best all-time month. Rounding out the list was Tioga Downs reporting $390,349 in gross gaming revenue for January. A figure that represented their best all-time month, eclipsing $347.089 in November 2020.
January’s record-breaking figures should only light the fuse toward escalating action toward moving online wagering legislative steps forward.
The bigger headlines have gone to neighboring New Jersey, who recently announced an almost “one-billion-dollar month” in sports wagering handle in December. The largest monthly figure ever accomplished by one US state.
Sports bettors in New Jersey wagered $6 billion in 2020, smashing the $5.4 billion record set by Nevada. Besides the 85-90% share contributed through online wagering; the most sobering fact is a large percentage was contributed by New York residents crossing the geolocation border into the state to obtain mobile wagering opportunity to bet.
As February is likely to produce more record-breaking news for New York’s four onsite sportsbook locations, the major celebration for the state awaits.
Larry Gibbs is both a seasoned journalist and a respected online gaming industry consultant. His wry commentary & sharp analysis have appeared in numerous top gaming and sports wagering publications. He has also served as Vice President of US Gaming Services, a marketing research organization with 15 years of experience in US online wagering. He has spoken at noted gaming industry conferences including G2E, GiGSE, and NCLGS.
Email: [email protected]
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