The four commercial casinos in New York are again mostly flat in comparison to their 2022 numbers. However, the activity around online sports betting is more than enough to make up for a slight decline of in-person gaming for the year.
In May, win for New York’s four non-tribal casinos and nine licensed online sportsbooks surpassed $207 million. While that’s an increase from the same month in 2022, essentially all of that improvement is due to growth in online sports betting.
New York’s commercial casinos report $55 million in May revenue
For all but one of New York’s four commercial gaming properties, May 2022 was more lucrative than that month this year. The four casinos combined to post $55.3 million in gaming revenue in May 2023, which represented just a small negative deviation of 3.4% from May 2022’s $57.2 million.
Those totals include revenue from in-person sports betting, poker, slots, and table games.
Rivers Schenectady was the only of the four to actually see significant growth in an annual comparison. That casino bested its May 2022 numbers by 7.6% in May 2023. The other three properties; del Lago (8.1%), Resorts World Catskills (10.6%), and Tioga Downs (1.2%) all experienced annual declines.
While casinos mostly just kept pace with their 2022 same-month figures, New York’s gaming industry overall nonetheless experienced phenomenal growth in May. The state’s coffers mostly have online sportsbooks to thank for that.
Another nine-figure month for online sports betting
According to the New York State Gaming Commission, the state’s nine licensed online sportsbooks won $151.9 million from bettors during May. That represented about 11.1% of the money that residents and visitors wagered during the month.
It’s the ninth consecutive month in which New York’s online sports betting apps have won at least $100 million from bettors. May also represented the ninth consecutive month in which bettors wagered at least a billion dollars in New York, this time amounting to $1.3 billion.
Both of those figures also represent an uptick from May 2022 as well. In that month, sportsbooks took in $1.2 billion from bettors. They won $109.7 million of that money. The improved performances of the sports betting apps made for a pretty picture for New York overall in May.
New York collects $91 million from gaming in May
The state’s share of revenue from the four commercial casinos plus nine online sportsbooks for May 2023 came to $91.3 million. That’s an increase of 23.4% from the same month last year. It also helps to set the current fiscal year, which just started in April, as a sizable upgrade from FY2022-23.
Through the first two months of the current fiscal year, the state has seen $404.6 million in gross gaming revenue from those sources. That’s an increase of almost 18% from the first two months of FY2022-23. Again, though, all of that increase is due to online sportsbook revenue.
Should these trends continue, the current fiscal year could be record-breaking in New York. The state has collected over $176 million in tax revenue from these gaming channels so far in that term, making a billion-dollar year in that metric an absolute possibility.