- Legal States
Julie Moraine January 13, 2021 2 min read
New York Gross Sports Betting Revenue Down in December
The New York State Gaming Commission released December sports betting figures, revealing sports wagering activities in the state accounted for $2.3 million. Following on the modest increase in November, the December figure confirmed New York ended 2020 on a down note.
Double-Digit Decrease in Gross Revenue
The December gross sports betting revenue decreased by 13.8% on a sequential basis from the $2.67 million generated by sportsbooks in November, but compared to November 2019, $740,418, the revenue for the last month of 2020 represents a huge 210.6% increase.
December was the third full month of operation for the 4 upstate casinos in The Empire State, since they were ordered to close down mid-March to help support state and federal efforts to curb the spread of the coronavirus.
Casinos which represent the only places where a New Yorker can legally place a wager on a sporting event since the state does not allow mobile sports betting, were allowed to re-open in September, albeit implementing strict safety protocols as per state health guidelines.
All Sportsbooks Affected
Of all 4 commercial casinos, Rivers Casino and Resort in Schenectady and its Rivers Sportsbook run by Rush Street Interactive held the top spot, generating sports betting revenue of $949,804, down 9.6% from the $1.05 million posted the previous month.
Second place, del Lago Resorts and Casino in Waterloo and its DraftKings Sportsbook, is cutting on the deficit, posting $922,718 in December sports wagering revenue, despite the slight downtick of 2.8% the retail sportsbook experienced from the November $949,710 figure.
Down with 20% from the $347,089 in November, FanDuel Sportsbook at Tioga Downs Casino in Nickols came in third, posting $277,301 in sports betting revenue, while Resorts World Catskills in Monticello sank by 60%, to $108,948, from the $274,324 generated in November.
The commission’s report which does not cover revenues generated by the state’s tribal casinos, showed sports betting revenue for the financial year-to-date (FYTD) accounted for $8.8 million for the nine months ended December 31, 2020. New York is a state which does not report sports betting handle.
Ahead of the December sports betting report in New Jersey which is set to be released Wednesday, the state continues to lead the pack after it smashed its own record posted in October by topping $900 million in November and coming close to the $1 billion single-month threshold.
The November figure which posted a 65.6% increase year-on-year helped the Garden State surpass $5 billion in total handle for the 11 months of 2020.