New York Needs Online Sports Betting After Low Sept. Revenue

New York Needs Online Sports Betting After Low Sept. Revenue
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If Gov. Andrew Cuomo needs any more proof that his state needs to approve online sports betting in New York, he just has to take a look at the numbers neighboring New Jersey is putting up.

Although sports betting in upstate New York’s four commercial casinos reopened five weeks ago after COVID-19 lockdowns, the 22 days from the Sept. 9 reopening generated $1.4 million in sports betting revenue. New Jersey on Thursday announced a record handle of $748.6 million with $45.1 million in sports betting revenue for September.

In August, neighboring New Jersey and Pennsylvania combined for more than $1 billion total in online and retail sports betting handle. They are sure to pass that figure in September, especially after New Jersey’s new record announced Thursday.

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New York’s September sports betting revenue figure represented a 38.5% decline from the $2.3 million that was generated last September.

New York State Sen. Joseph P. Addabbo, Jr. (D), representing the state’s 15th district and chairman of a committee on racing, gaming and wagering, told in September that online and mobile sports betting would be included in a revenue package.

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Revenue Figures by Casino

Revenue figures for each individual casino in New York were posted on the New York Gaming Commission’s website.

Rivers Casino and Resort in Schenectady led the way with $623,587, followed by del Lago Resort and Casino in Waterloo (Draft Kings-branded) with $398,497.

Resorts World Catskills in Monticello generated $285,295 and Tioga Downs in Nichols (FanDuel-branded) had modest revenue of $96,164.

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Move Forward in New York?

The New York Senate passed mobile sports betting as a standalone bill last year, but it needs to pass the state assembly. Addabbo said he believes there are enough votes in the House to pass it.

“We are going to need substantial and consistent revenue going forward for this state and this provides an opportunity for us to do so,” Addabbo told "We can go back into session at a moment’s notice and we do have some time to try and get this moving forward and do it right, but we would hope by the Super Bowl or March Madness, we can have something in place.

But for online sports betting legislation to advance, it will need the support of Cuomo. He has never embraced online sports betting and has only supported modest gaming expansion since he approved retail sports betting at the four upstate casinos.