NY Sports Betting Revenue Increases Despite COVID-19 Shut Downs

  • After major losses in February, New York sports betting revenue has actually managed to go up in March.
  • With the most COVID-19 cases in the country, sports betting in NY has almost fully shut down with most of its casinos closed.
  • NY expects even more losses in sports betting revenue in April as the country deals with the coronavirus outbreak.

ALBANY, N.Y.New York sports betting revenue has actually managed to increase in March after major losses in February due to COVID-19. Many sportsbooks have struggled with the shutdowns of major sporting leagues and casinos themselves locking their doors.

With no regulated mobile sports betting, NY + who are not able to host sports bettors as the Empire State deals with the pandemic.

NY sports betting in March saw a reported revenue of over $99 thousand from its four commercial casinos. It’s estimated there was more revenue generated from Tribal casinos, however, those figures are not reported to the public.

NY Sports Betting

Sports betting in NY suffered a major loss of revenue in February. This is no surprise as COVID-19 began spreading around that time and only to lead to massive shutdowns in March.

According to reports provided by the New York State Gaming Commission, The Empire State saw a loss of $179,593 in February. That was the lowest recorded month of revenue in NY since launching regulated sports betting.

March managed to see commercial casino revenue increase, totaling $99,514 in total profit for the state.

The Rivers Casino & Resort managed to be one of the prime reasons for this, generating around $81,883 in revenue from sports betting. This is a big win after suffering $38,802 in losses in February.

The DraftKings powered Del Lago Resort and Casino managed to garner profit in March as well. The sportsbook took in $53,861. Although, this is down from the $98,247 they managed to take in February.

Even though NY saw financial increases in March from February, March is still the second-lowest revenue month since launching regulated sports betting. As the coronavirus continues to shut down the Empire State, the losses of sports betting revenue are looking to persist.

As well as increases in revenue from February, March also saw the unanimous vote for Yonkers sports betting, showing that NY is already thinking of sports betting plans once the COVID-19 pandemic is handled. N.Y. sportsbooks closer to New York City should help with overall state revenues.

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