July: New York State reports $1.26bn sports betting handle
Revenue grew month-on-month by close to $7m.
The New York State Gaming Commission has published its mobile sports betting results for the month of July. Last month, the Empire State reported a nearly $1.26bn handle, reflecting more than a $200m decrease in activity when compared to results from the month of June.
Last month’s handle was the lowest total during the summer months so far. November 2023 remains the top month since the market’s opening, according to the commission’s report.
However, the state has generated some strong results during the past 12 months that include September and October, which brought in monthly handles of $1.75bn and $2bn respectively. Both May and June of this year came close to reaching the $2bn milestone as well. July’s gross gaming revenue (GGR) rose by nearly $7m when compared to June’s numbers. GGR statewide climbed to $140m during the month of July.
Platform providers around the state reported a combined total of nearly $68.7m in net revenue during July. Net revenue grew by almost $3m when compared to earnings from June.
Revenue set aside for education during the month of July totaled nearly $71.6m, close to $3m more than the state posted in June.
In other state news, a recent major vote has brought Long Island a little closer to seeing a new casino and resort complex.
Lawmakers voted in favor of transferring the 72-acre Nassau Coliseum property to Las Vegas Sands. The company plans to build a $6bn casino and resort complex at the Long Island property.
Online sports betting in New York went live two years ago. To date, more than 35 states have embraced regulated sports betting since the US Supreme Court overturned the Professional and Amateur Sports Protection Act of 1992 (PASPA) in May 2018, also known as the Bradley Act.
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