New York sports betting volume was $1.17 billion in June, up 11.3% year-on-year but 14% lower than in May of this year ($1.36 billion) . According to the New York Gaming Commission, revenue reached $103.8 million, down 31.7% from May but up 42% compared to June 2022.
New York operators ended June with a retention rate of 8.6%, down 2.5 points from the previous month. Reported tax revenue was $52.9 million, the lowest since August 2022.
FanDuel remains the most popular bookmaker in New York with revenue of $47.2 million on a volume of $418.1 million. In second place is DraftKings, which registered $37.1 million of a volume of $488.5 million.
Caesars generated $8.6 million from $124.8 million volume, while BetMGM generated $7 million from $75.4 million volume.
Legal online sports betting in New York started last year, and the state has become the largest market in the US. To date, over $9.1 billion has been legally wagered at online sportsbooks. That figure is 6.67% higher than the $8.5 billion wagered in the first half of 2022. Bookmakers earned nearly $51 million in after-tax revenue.
$10 billion casino to be built in New York
Related Companies, developer of Hudson Yards, recently said it will make a $10 billion investment in the western half of Hudson Yards with a Wynn casino and resort tower kicking off the project, according to The Post.
The Wynn tower would include a 1,700-room hotel that would help service the Javits Center, Related CEO Jeff Blau said. “It would be one of the most incredible buildings in New York City,” declared the company’s CEO.
