New York Commercial Sports Betting Lounges Loss Swells

New York State is once again making an overview of the past couple of weeks and the sports wagering opportunities there have been. The month of February managed to reach a new low when it comes to in-person sports wagering at the four commercial casino locations sprinkled across the Upstate New York area. The sole casino resort to amass revenue ended up being del Lago Resort & Casino.

In-person sports wagering appears to be experiencing a downwards slump ever since it launched operation in the summer of 2019. Commercial casino locations offering this gaming opportunity report their gross gaming revenue on a monthly basis and there has been a clear drop from one month to the other. February marked yet another month with low sports wagering performance.

Tough February in Upstate New York

Losses reaching US$179,593 have been reported by the four commercial venues in operation. Fewer people have made their way to the gaming venues over the four weeks of February and one of the reasons for this is the relative convenience of mobile sports wagering that is still considered illegal in New York State. Local players and lawmakers seek a change.

Supporters of mobile sports wagering have previously made a point that Governor Andrew Cuomo does not listen to the clamor and refuses to include this gaming expansion in the 2020 state budget. This harms the local gaming field, as it is evident by the decreasing gross gaming revenue reported. December 2019 used to be considered the worst month for New York State sports betting.

It could be recalled that the last month of 2019 witnessed gaming revenue reaching US$780,418, considered a low mark for the budding sports wagering field. Now the industry reached an even lower point with gaming revenue amounting to US$54.6 million. February 2019 might have brought the Super Bowl wagering activities, but this could not salvage the gross gaming revenue of the four venues.

Mobile Sports Wagering Eyed

del Lago Resort & Casino amassed US$98,247 in February. Over the four weeks of February, players of Upstate New York were drawn to the casino location and their wagers managed to reach the aforementioned amount. DraftKings is the provider powering the sportsbook available on the premises of the casino. Rivers Casino & Resort located in Schenectady was the first commercial casino to greenlight the offering.

It managed to amass loss amounting to US$38,802 ranking it on the runner-up position on a local scale. Its revenue witnessed a 2.4-percent drop in its revenue reaching US$15.3 million. Tioga Downs was the venue reporting loss amounting to US$94,030 as fewer players were willing to place their wagers and win big over the period in question. Its gaming revenue amounted to US$7.1 million in February with a slight rise.

It should be taken into account that Resorts World Catskills reported loss reaching US$145,008 while also saw revenue rising to US$19.6 million. This marked a 20.5-percent surge when compared to the January 2020 performance. The Senate Committee on Finance is currently mulling over the proposed Senate Bill 17 legalizing mobile sports betting. Upcoming weeks are expected to see changes taking place.

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Author:

Yolina has followed closely the latest development on the Canadian gaming scene over the past years, monitoring the land-based, lottery, and online offerings up for grabs. The dynamic nature of the local lottery and casino fields, as well as the opportunities lying ahead of Canada fire her enthusiasm for what is to come. A sports betting enthusiast, in her spare time Yolina could be found in her natural habitat – turning the pages of biographies and catching up on the latest stand-up comedy podcasts.