News Business New York Sportsbook Revenue Falls

New York Sportsbook Revenue Falls

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Sportsbook revenue in the state of New York fell during the month of October.

Figures released by the New York State Gaming Commission show that the four sportsbooks in the state suffered a 4.4% month on month fall in revenue to $2.2 million. However, total revenue across the state was the second highest monthly figure since the regulated market launched in July. The highest figure remains September’s return of $2.3 million, and since the middle of July, the state of New York has now earned $5.7 million in sports betting revenue.

The leader in the New York sportsbook sector is Rush Street’s Rivers Casino and Resort Schenectady. The resort took $1 million in October, up on the $903,892 for September.

Del Lago Resort and Casino, which has a partnership with DraftKings, fared poorly last month. Although it is still in second place, its revenue fell by 31.6% from September to October.

Tioga Downs Casino, which offers a FanDuel sportsbook, also saw a drop in sports betting revenue, down 6% to $152,696, but Resort World Catskills, which has a partnership with IGT and Betgenius reported stronger results, increasing revenue from $381,210 to $506,380.

Sports betting insiders will also note that the reported figures for October don’t include New York tribal casino revenue. The Oneida Nation has launched sports betting through a deal with Scientific Games, at a number of its retail reports in New York state.

And that market is set to grow more competitive in the next few months. Last week, Kambi signed a deal to provide sportsbook products for three New York casinos run by Seneca Gaming Corporation (SGC) casinos in the state. The sportsbook infrastructure will be introduced over the next few weeks, with the first bets due to be taken early in 2020.

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