As the state prepares to award three highly sought-after downstate casino licenses, these impressive sports betting figures underscore the enormous potential of New York’s gaming market.

Notably, five of the eight casino bidders also operate mobile sportsbook platforms, giving them a unique advantage in both market familiarity and customer reach. Despite facing one of the highest tax rates in the country, New York remains a magnet for operators eager to tap into its massive betting base.

But how are these operators performing — and could their success in online sports betting give them a critical edge in the fierce race for these coveted casino licenses?

June 2025 Sports Betting Revenue

New York’s sports betting market generated $1.65 billion in handle in June, the lowest figure in over a year. However, despite the handle dip, operators maintained a record 12.5% hold rate.

As a result, the state generated gross gaming revenue of $206.5 million, a 54% year-over-year increase. As the state collects 51%, tax receipts were $105 million.

June marked the second consecutive month surpassing $200 million in gross revenue, and the fifth in the past year. In that period, mobile sportsbooks have contributed over $1.1 billion in tax revenue.

As expected, FanDuel and DraftKings dominated the market, together capturing 78% of the market. For the trailing 12 months, the market leader FanDuel alone has surpassed $1 billion in gross gaming revenue.

How the Casino Bid Hopefuls Fared

MGM Empire City

Among the casino bidders, BetMGM, co-owned by MGM Resorts and Entain, reported approximately $116.6 million in handle (about 7% market share) and $11.9 million in gross gaming revenue in June. That represented a 16% increase year-over-year in handle and an impressive 74% increase in revenue.

MGM Resorts plans to transform its Empire City Casino in Yonkers into a full-scale casino. At $2.3 billion, the transformation is the lowest-valued. Still, it is among the front runners due to the lower resources needed to convert. Additionally, the project already contributes tax revenue and has little opposition.

Caesars Times Square

While the New York Gaming Commission did not post Caesars Entertainment’s Caesars Sportsbook monthly revenue figures on its website, it did load the weekly ones. They show that Caesars Sportsbook closely trailed BetMGM.

While Caesars’ handle remained mostly flat compared to June 2024 (about 5 or 6% market share), its gross gaming revenue grew significantly, thanks to improved hold rates and marketing. (As the weeks did not coincide with the whole month, full figures cannot be given.)

Caesars’ casino proposal, Caesars Times Square, developed in partnership with SL Green and Jay-Z’s Roc Nation, aims to transform Times Square. While its “elevated entertainment” concept promises an economic boost for the neighborhood, it faces strong opposition, especially from the theater industry.

The Avenir

Rush Street Interactive, which operates the BetRivers platform, is a partner in The Avenir bid in Manhattan. For June, the mobile platform brought in $40.4 million in handle (about 2.5% market share) and $3.7 million in revenue.

These figures represented a 41% decrease in handle, but a 48% increase in revenue.

The Avenir, a $5 billion Manhattan project which includes a 1,000-room Hyatt Destination hotel, is being developed by Silverstein Properties, which is behind One World Trade. The developer is among the most politically connected companies in New York, which could help its cause.

Still, it faces various West Side community organizations and local politicians’ opposition.

Bally’s Bronx

Bally’s Corporation’s Bally Bet sports betting platform is among the smaller players in the New York market. In June, it generated $9.9 million in handle (approximately 0.6% market share) and $791,201 in revenue. Still, that represented a 44% yearly increase in handle and a 20% rise in revenue.

Bally’s bid is relying on job creation and an economic boost for the Bronx. As a result, it has received support from most Democratic leaders in the Bronx. The Trump Organization also stands to benefit financially if Bally’s receives a license from the land-purchase deal.

The company faced concerns about whether it could finance the $4 billion project. However, it recently announced a $3.2 billion sale of its International Interactive Division to Intralot, which will give it a much-needed financial injection.

Resorts World New York City

June was Resorts World Bet’s last month, as it announced it would shut down on June 30. That reflected in the platform’s performance, which ranks last in the state in terms of market share. In June, it generated only $2.75 million in handle (about 0.17% market share) and $229,357 in revenue.

These figures represented a 63% year-over-year decline in handle and a 60% decline in revenue.

The exit of its sportsbook has not steered its parent company, Genting Group, to pursue a full casino license for its Queens racino.

Like MGM’s Empire City, many consider Resorts World New York City a frontrunner as it’s an operational racino. It has minimal opposition and strong support among local politicians and organizations.

Could Knowledge of NY Consumers Help with Casino Applications?

While the five operators trail FanDuel and DraftKings in sports betting revenue, their sports betting experience could give them an advantage: deep knowledge of New York bettors.

Their existing data covers wagering patterns, peak betting seasons, promotional effectiveness, and player demographics.

They can leverage this information to cross-promote between the digital platform and physical property, creating tailored experiences to resonate with local players. For example, through their loyalty programs, they can offer targeted bonuses or invite top online bettors to exclusive in-person events.

Additionally, familiarity with the brands could enhance consumer engagement, which in turn could help satisfy community advisory committees (CACs) that may seek operators committed to regional economic growth and responsible gaming.

What Lies Ahead

New York expects to announce the three casino license winners by the end of the year. Before that, the license hopefuls must get approval from their CACs, which were recently formed.

These committees must hold at least two public hearings to gather community input. During this stage, committees can also request that applicants modify or adjust their proposals to better address community concerns.

After the hearings, the CACs will vote on the licensees, with a two-thirds approval requirement. The applications approved by CACs will then move to the Gaming Facility Location Board for final recommendation.

The post New York Sportsbooks See a 54% YoY Revenue Increase in June: How Do the Casino Bid Hopefuls Fare? appeared first on CasinoBeats.

On June 9, the operator posted on X: “We wanted to inform you about some important changes regarding Resorts World Bet. We encourage you to take action on any outstanding wagers or withdrawals before these dates to avoid any disruptions.”

The exit may not come as a surprise to those following the market closely. Resorts World Bet ranks last among the nine online sportsbooks in the Empire State in terms of revenue.

In May, it reported $10.5 million in handle and $376,410 gross gaming revenue. For the rolling year, the sportsbook’s handle was $89.6 million, and the revenue was $6.4 million. In comparison, market leader FanDuel reported $803 million in handle and $108.9 million in revenue for the month of May alone.

Resorts World’s May results give them approximately 0.48% of the New York sports wagering market share by handle, and just 0.15% by GGR. Given the significant cost of operating in the Big Apple, it would take considerable marketing spend to begin to attempt to steer the operator to a stronger position. This is clearly not a part of the company’s sports betting strategy moving forward.

Who Can Replace Resorts World Bet in NY?

New York is the largest sports betting market in the US. In May, sportsbooks set a monthly record of $248.9 million in gross gaming revenue, beating the previous record set in January. For the rolling year, the nine sportsbooks have generated $2.14 billion in revenue.

Despite a hefty 51% tax, the joint-highest in the US, New York has attracted most of the major operators, including FanDuel, DraftKings, BetMGM, and Caesars.

It’s unclear whether Resorts World Bet would look to sell its license, but if it does, interest from other operators is likely.

A potential suitor could be the global giant Bet365. The British-based operator entered the US in 2019 and took a slow expansion approach until 2022. However, with a more aggressive strategy, it’s now live in 13 states. Hard Rock Bet could also emerge as a potential candidate.

If someone acquires the Resorts World Bet license, it won’t mark a precedent for the market. In 2024, Penn Entertainment’s ESPN Bet took over the WynnBet license after the latter decided to shut down.

Previously, Fanatics Sportsbook entered the market after acquiring PointsBet for $225 million.

No Change of Plans in Genting’s Downstate NY Casino Plans

The Resorts World Bet shutdown will not impact parent company Genting Group’s plans for a full casino license in the state.

The Malaysia-based gambling company operates the Resorts World New York racino in Queens, which is among the candidates for one of three downstate New York licenses.

The property and MGM Resorts’ Empire City Casino in Yonkers are considered by many to be the two frontrunners. They are already operational and would require fewer resources to convert into full-scale casinos.

The competition for the licenses is tight. Even though the initial licensing would cost $500 million and require an additional investment of at least $500 million, there are plenty of suitors.

That includes Manhattan projects like Soloviev Group and Mohegan Gaming’s Freedom Plaza, as well as Caesars Entertainment and SL Green Realty’s Times Square casino.

Another high-profile bid comes from Mets owner Steve Cohen and Hard Rock International. The partners plan to build an $8 billion casino project near Citi Field in Queens. Meanwhile, Bally’s Corporation plans to build a casino in the Bronx. However, the project has hit a roadblock due to permitting issues.

License applications are due by June 27, and the state anticipates making a decision by December.

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The latest developments saw the Nevada Gaming Control Board (NGCB) file a disciplinary complaint against the casino, as well as its parent and affiliated companies and individuals working at the property.

Key to the allegations is Scott Sibella, who recently pled guilty to money laundering charges stemming from his previous tenure at MGM Resorts. It has also emerged that he extended credit to individuals with ties to illegal bookmaking while working at Resorts World.

According to the NGCB complaint, Resorts World allegedly failed to meet anti-money laundering (AML) standards when they extended credit to Matthew Bowyer, the illegal bookmaker charged with operating an illegal sports betting ring with clients including Shohei Ohtani’s ex-interpreter, Ippei Mizuhara.

The complaint also alleges that the casino failed to bar, ban or restrict Edward Ting and Chad Iwamoto, who have both been found guilty of illegal gambling activities in the past.

Welman emphasised that the allegations are a stain on the industry and ‘a bad look’  for a Vegas casino.

She added that there has been a “major failing” of the systems that are supposed to be in place to ensure that proof of funds is provided when a line of credit is extended to a patron.

On potential punishments for Resorts World, she continued: “I don’t know what they’re going to do to them, but it’s got to be big. These are fundamentals that you should know about approving clients. In Nevada, there are massive amounts of rules that you have to follow and this wasn’t just an oversight.

“The record fine for a Nevada casino I believe is $20m and I would think that you go higher. There’s probably at least one conversation at the NGCB about ‘Does this casino deserve a license?’. [However] I think once you build a $2bn property, it gets complicated. You put that investment in jobs and you don’t want to put those people out of a job.”

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The case is unfolding further after it was found that former Resorts World President Scott Sibella, who resigned last October, pleaded guilty to money laundering charges during his previous tenure at MGM Resorts.

Sibella allowed known illegal bookie Wayne Nix to gamble at the property despite him being aware of Nix’s money-making operation. 

The impact of that case continues to be felt however, and a myriad of other players could potentially be dragged in, with the Nevada Gaming Control Board now pursuing a disciplinary complaint against Resorts World Las Vegas and its parent and affiliated companies, as well as individuals working for the property. 

Central to the allegations from the NGCB are key violations of the Nevada Gaming Control Act and the Nevada Gaming Commission’s regulations, as it claimed that AML standards simply weren’t met by the operator. 

The NGCB has raised warnings that the environment at Resorts World had significant shortcomings in terms of its approach to compliance, becoming an entertainment destination with suspected or direct ties to illegal gambling businesses. 

There are accusations that the environment at Resorts World enabled bookie Matthew Bowyer to use funds he had obtained through illegal activity.  

Bowyer, who was charged with operating an illegal sports betting ring, agreed to plead guilty on 9 August to operating an unlawful gambling business, money laundering and subscribing to a false tax return for his role in the scheme.

Resorts World’s AML program underlines that it is essential for workers to report suspicious activity and any violations, but the NCGB alleges there was a complete disregard for regulations by the casino when it came to Bowyer and some associates.

There were several Resorts World executives, including Sibella, who had the unilateral authority to ban Bowyer but they allegedly turned a blind eye to his gambling.

The Bowyer case is one of a number of cases that Resorts World is in legal hot water over, with there also being a complaint filed by the NGCB that alleges Resorts World failed to bar, ban or restrict Edwin Ting, who ran an illegal gambling business. In 2014, Ting was sentenced to five months in prison in a New York federal court and ordered to forfeit $2m for running an illegal poker operation that used intimidation to collect debts from players who refused to pay.

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The group has disclosed that its Resorts WorldBET mobile sports wagering app has successfully accepted its first wager in New York, a feat that the group says marks “a momentous introduction” as an online betting brand and operator in the US.

“This is something our players and sports enthusiasts have wanted for a long time, and we’re excited to say Resorts World New York now has mobile sports betting,” said Robert DeSalvio, President of Genting Americas East. 

“From our experience in having a sportsbook in both our Catskills and Las Vegas properties, we were able to take feedback from our players and deliver what New Yorkers really want in a mobile sports betting app. 

“By partnering with an innovative product and technology focused company in PointsBet as our platform provider, we believe Resorts WorldBET will only add to our success.”

As part of the app’s launch, Resorts World New York City has invested almost $1m to install digital displays across the property to show all of the big games throughout the year. 

“For us, it’s all about providing a complete world class gaming experience and delivering the latest technology to our guests and loyal customers,” said Darlene Monzo, Chief Marketing Officer, Genting America’s East. 

“Our players trust us, and we’re excited to provide a safe way for them to place their favorite sports bets through the Resorts WorldBET app, which they can do from the comfort of their couch, or in the big screen environment of Bar 360 in Queens, or Sportsbook 360 at Resorts World Catskills.”

Resorts World was one of nine operators that the New York State Gaming Commission approved for launch, with Caesars, DraftKings, FanDuel, and Rush Street Interactive, all debuting as the market went live at 9am on Saturday 8 January.

Furthermore, BetMGM, Wynn and PointsBet, have all since entered the fray, with Bally’s asserting that it will “launch when the product is right.”

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The $4.3bn Genting facility officially released the date of its grand opening in April, when a desire to play a part in the region’s rebound after what has been an “incredibly challenging year for the destination and greater hospitality industry” was disclosed.

Resorts World Las Vegas will be driven by mobile technology and cashless wagering, in a move which has been praised as a “tremendous opportunity” to further the digital transformation of the consumer experience in gaming.

A number of partnerships have been secured alongside the likes of Konami Gaming, Sightline, NRT Technology, Genesis Gaming and IGT, with the facility to offer 117,000 square feet of gaming space featuring over 1,400 slot machines, 117 table games, a dedicated poker room and 30 poker tables, plus high-limit areas and a sportsbook.

“After years of planning and constructing this monumental property with some of the most innovative partners in the industry, Resorts World Las Vegas will redefine the hospitality standard in Las Vegas with unmatched dining and entertainment, more variety of hotel accommodations than anywhere else on the strip, and the city’s most progressive technology,” Scott Sibella, president of Resorts World Las Vegas, was previously quoted as saying when discussing the impending debut. 

Furthermore, through a partnership with Hilton, the property will feature three of the group’s brands, in a collaboration lauded as “the largest multi-brand deal” in the hospitality firm’s history.

This will see Resorts World Las Vegas boast the largest Conrad Hotels & Resorts property in the world, one of the first LXR Hotels & Resorts locations in the US, and a marquee Hilton Hotels & Resorts hotel.

“Hilton helped create the Las Vegas we know today – the entertainment capital of the world grew as we invested in unparalleled hotels, dining, entertainment and design,” commented Chris Nassetta, Hilton president and CEO, ahead of the launch.

“Now we are raising the bar again, offering brands for any style of travel with a renewed focus on premium and luxury hotels. Las Vegas has been an especially bright spot in our global growth strategy, and we are excited to open thousands of rooms there just as people begin traveling again.”

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During its nine-year existence the property has generated enough revenue to fund 12 million laptops for students (based on $250 cost), or 37,500 public school teacher salaries for a year (based on New York average of $80K), or fully fund public education for 150,000 students for one school year (based on $20,000 average cost per year), or supply 6,082,725 students with school lunch for an entire school year (based on $2.74 average cost nationwide).

“Since opening its doors nine years ago, Resorts World has fulfilled its commitment to be an economic driver, a good community partner, and, most important, a leader in generating significant and much-needed resources to New York’s public schools,” said Bob DeSalvio, President, Genting Americas East. 

“As New York now begins its recovery, we are proud to continue to provide critical support so that kids across the state have access to a higher-quality education, and we are ready to step up and elevate that support in both the short- and long-term for the state.” 

The New York Lottery contributed $3.38bn in the 2019/20 fiscal year to help support education in the state, of which RWNY generated $348m, a figure it says represents a ‘greater share than any of the other video gaming operators’ in the jurisdiction.

This revenue is used to support education across more than 700 school districts in New York State, distributed via a statutory formula that provides larger shares of funding to lower-income school districts.

State Senator Joseph Addabbo Jr, chair of the senate committee on racing, gaming and wagering, explained: “Over the last nine years Resorts World NYC has proven to be a fantastic community partner for not only South Ozone Park, but for New York State, and this incredible milestone is proof of that. 

“The $3bn Resorts World NYC has generated for New York’s Lottery education fund has been used to improve the lives of countless students and teachers across the state. I am extremely proud to have Resorts World NYC in my district, and hometown, and I look forward to continuing to partner with them going forward.”

Passing the $3bn mark in revenue generated for the education fund comes just weeks after the facility announced plans for a new Hyatt Regency JFK hotel at the complex. The eight-story, 400-room, four-star offering is scheduled to open in Q1 2021. 

The hotel will also include new restaurants, an array of conference and meeting spaces, retail options, and additional gaming areas, adding to the over 6,000 slots and electronic table games already available.

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98.6

Gaming giant Evolution has taken its total holding in NetEnt to approximately 96.8 per cent of the outstanding shares and 98.6 per cent of votes, confirmed the group upon expiry of the extended acceptance period for the offer.

The new company will operate as a single organisation under the Evolution banner, following its corporate brand change in early October, and will continue to offer products under the four brands of Evolution, Ezugi, NetEnt and Red Tiger.

Evolution confirms that it has ‘initiated a compulsory buy-out procedure in accordance with the Swedish Companies Act for the purpose of acquiring those shares not submitted in the offer’.

Furthermore, NetEnt has also applied for the delisting of its shares from Nasdaq Stockholm, with the last day for trading to be published when the stock exchange has made a decision.

Documenting the make-up of the enlarged company further still, Evolution has initiated ‘a total reorganisation and integration’ of NetEnt. This restructuring has also led to a ‘streamlining of the business’ within the development of slots games, as well as the NetEnt Live business proposition closing down.

95

Flutter Entertainment is to take its stake in FanDuel to 95 per cent, after announcing a $4.175bn (£3.131bn) conditional agreement to acquire the 37.2 per cent interest in the group that is currently held by Fastball. The remaining five per cent will continue to be held by Boyd Gaming.

The global gaming and sports betting group, which is increasing its ownership in FanDuel from 57.8 per cent, is to fund the deal with a combination of $2.088bn in cash and the issuance of 11.7 million ordinary shares. Flutter has also announced its intention to conduct a £1.1bn equity placing.

Flutter, which says that the deal is conditional on shareholder approval, comments that the translation materially increases its exposure to a US market that it asserts is ‘the most attractive sector opportunity today’. The deal terminates Fastball’s economic interest in Fox Bet.

2,000

Norsk Tipping has introduced a raft of temporary measures across its ‘high-risk’ games, including a 25 per cent reduction in the maximum monthly loss limit.

Introduced to ‘curb risky gaming activity in the short term,’ this move will see customers accessing KongKasino, eFlax, Bingoria and Yezz be permitted to lose up to NOK 7,000 (£592) per month.

Furthermore, the maximum daily loss limit on these games has also been reduced by 50 per cent to NOK 2,000 (£170), with the length of mandatory break after one hour of continuous play increasing from 90 seconds to 15 minutes.

The ‘popular’ label on selected online casino games will also be removed, with marketing by text message and email to customers in the 18-25 years age bracket to cease.

3

888 Holdings has unveiled three multi-year market access agreements in the US, as the group raises full-year expectations due to a continued strong operational performance throughout the second half of the year.

Representing the latest milestone’s in the group’s strategic US growth strategy, launches across Colorado, Indiana and Iowa, initially via the 888Sport brand, will commence during 2021.

In the former of those 888sport will debut under the licence of the Colorado Grande Casino based in Cripple Creek, the Hoosier State sees an agreement secured alongside Harrah’s Hoosier Park, which is owned by Caesars Entertainment, while an Iowan debut will take place under the licence of Catfish Bend Casinos.

As well as unveiling plans to increase its US presence to six states, 888’s board anticipates that full-year revenue will finish 45 per cent ahead of 2019’s $560.3m.

56.2

BetMakers has entered into binding agreements to acquire global assets of international online sports betting company Sportech for AU$56.2m, in a move which is designed to ‘supercharge’ its entry into the US.

Considering the acquisition to be transformational for the firm’s financial and growth prospects, the purchase includes an Americas tote business that provides betting solutions, hardware and operational services to over 200 racetrack, casino and betting venues to more than 50 customers in the United States, Canada and Latin America.

The deal also includes a digital business that provides white-label betting solutions to more than 25 customers in North America; a UK and European tote business that serves more than 35 customers across the UK, Ireland, Europe and Asia; and Quantum tote technology.

250

Resorts World Casino New York City has announced that it has generated in excess of $3bn for New York’s Lottery education fund since opening its doors in October 2011.

During its nine-year existence the property has generated enough revenue to fund 12 million laptops for students (based on $250 cost), or 37,500 public school teacher salaries for a year (based on New York average of $80K), or fully fund public education for 150,000 students for one school year (based on $20,000 average cost per year), or supply 6,082,725 students with school lunch for an entire school year (based on $2.74 average cost nationwide).

The New York Lottery contributed $3.38bn in the 2019/20 fiscal year to help support education in the state, of which RWNY generated $348m, a figure it says represents a ‘greater share than any of the other video gaming operators’ in the jurisdiction.

This revenue is used to support education across more than 700 school districts in New York State, distributed via a statutory formula that provides larger shares of funding to lower-income school districts.

2.5

The government of Gibraltar has imposed multiple fines totalling £2.5m across its gambling sector following a ‘thematic review’ by the country’s Gambling Division.

Having identified weak processes and controls related to ensuring AML protections, the Gambling Division noted within its assessment that operators had ‘worked collaboratively’ with its investigation to rectify ‘generic system weaknesses that are common to more than one operator’.

The Gibraltar government confirmed that fine proceeds totalling £2.5m would be distributed to the ‘Gibraltar Gambling Care Foundation’ – to support the use of training initiatives at the Gibraltar University in AML and social responsibility by their employees.

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