New York Betting Revenue Report: Casino & Sports Betting

Pie in the Sky Projections? New York’s Gambling Revenue Slower than Expected, but Growing

In 2013, New York voters approved a measure that amended the state constitution to permit Las Vegas-style casinos. Previously, gambling was restricted to race tracks and tribal casinos. Ever since this legislation was inked into state law, casinos have projected revenue estimates.

Until recently, these projections have been less than what the actual revenue numbers proved to be true. However, recently these pie in the sky projections have gravitated towards becoming more accurate. In fact, within the first few months of 2019, New York betting revenue has set new records. These numbers will likely change in the near future to include sports betting. As reported, the New York State Gaming Commission approved a form of sports betting for upstate casinos.

YTD Commercial Gaming Revenue- $323,654,329

July 2019

CasinoSlot RevenueTable Game RevenuePoker RevenueTotal
Tioga Downs Casino
$6,113,230
$861,921
$62,992
$7,093,363
del Lago Resort and Casino
$9,682,223
$4,360,098
$221,474
$14,263,795
Rivers Casino and Resort
$10,083,186
$3,287,653
$424,424
$14,089,513
Resorts World Catskills
$11,721,108
$8,615,364
$428,414
$20,764,886
Totals
$37,599,747
$17,125,036
$1,147,304
$56,211,557

June 2019

CasinoSlot RevenueTable Game RevenuePoker RevenueTotal
Tioga Downs Casino
$5,884,746
$1,056,951
$61,205
$7,002,902
del Lago Resort and Casino
$10,083,729
$2,529,084
$204,100
$12,816,912
Rivers Casino and Resort
$9,989,869
$3,555,900
$372,570
$13,918,339
Resorts World Catskills
$11,840,758
$8,154,979
$355,366
$20,351,103
Totals
$37,799,102
$15,296,914
$993,241
$54,089,256

May 2019

CasinoSlot RevenueTable Game Revenue Poker RevenueTotal
Tioga Downs Casino
$6,312,808
$1,020,236
$71,691
$7,404,735
del Lago Resort and Casino
$10,427,197
$2,733,634
$238,214
$13,399,045
Rivers Casino and Resort
$10,231,229
$3,086,929
$416,931
$13,735,088
Resorts World Catskills
$11,123,384
$3,003,857
$362,108
$14,489,348
Totals
$38,094,618
$9,844,656
$1,088,944
$49,028,216

April 2019

CasinoSlot RevenueTable Game RevenuePoker RevenueTotal
Tioga Downs Casino
$5,925,366
$946,982
$61,458
$6,933,806
del Lago Resort and Casino
$10,298,686
$2,754,114
$250,477
$13,303,277
Rivers Casino and Resort
$10,006,797
$3,544,336
$409,991
$13,961,124
Resorts World Catskills
$9,072,794
$7,523,617
$363,194
$16,959,605
Totals
$35,303,643
$14,769,049
$1,085,120
$51,157,812

March 2019

CasinoSlot RevenueTable Game RevenuePoker RevenueTotal
Tioga Downs Casino
$6,712,334
$1,133,434
$104,072
$7,949,840
del Lago Resort and Casino
$11,115,867
$3,357,748
$293,964
$14,767,579
Rivers Casino and Resort
$11,211,754
$4,245,021
$517,695
$15,974,470
Resorts World Catskills
$10,821,394
$6,855,502
$434,037
$18,110,932
Totals
$39,861,349
$15,591,705
$1,349,768
$56,802,821

February 2019

CasinoSlot RevenueTable Game RevenuePoker RevenueTotal
Tioga Downs Casino
$5,468,959
$1,044,911
$76,316
$6,590,186
del Lago Resort and Casino
$9,068,305
$2,576,760
$244,148
$11,889,212
Rivers Casino and Resort
$8,686,561
$3,705,352
$414,655
$12,806,568
Resorts World Catskills
$8,610,768
$5,278,400
$369,376
$14,258,544
Totals
$31,834,593
$12,605,423
$1104,495
$45,544,510

January 2019

CasinoSlot RevenueTable Game RevenuePoker RevenueTotal Revenue
Tioga Downs Casino
$4,813,696
$792,228
$70,242
$5,676,166
del Lago Resort and Casino
$7,922,626
$2,547,445
$247,446
$10,717,516
Rivers Casino and Resort
$7,722,856
$3,195,252
$436,756
$11,354,863
Resorts World Catskills
$7,618,414
$5,102,679
$350,519
$13,071,612
Totals
$28,077,592
$11,637,614
$1,104,963
$40,820,157

Lofty Expectations?

When casinos began applying for licenses with the New York Gaming Commission, they had to post estimated revenues. For the first three years, many of the facilities were proving to have vastly underestimated these numbers. A vast majority of these projections were over 50-percent off the mark.

Many thought the eagerness of these gambling facilities purposefully inflated estimates to gain access to casino player’s pocket books. However, the operations themselves quickly pointed to the stat sheet. Even though numbers were below original projections, revenue was still climbing.

While early revenue projections were low, the money being funneled into the New York State Treasury was growing steadily. One problem was insisting that the individual casino revenue estimates somehow reflected poorly on the 2013 amendment to permit the growth of such operations. The latest numbers certainly reflect a vastly different picture.

New Year Brings New Hope for New York Betting Revenue

As the calendar flipped to 2019, most state betting revenue numbers still reflected the same picture. While projections seemed to consistently be less than projected, the revenue was still growing.

Tioga Downs Casino is one classic example. After peaking at a high mark for gross credits played in April 2018, numbers bounced up and down for the next 11 months. However, this past March total gross revenue from gaming credits jumped over $17 million in a 30-day period.

This was the largest increase between any two months in the last three years. Some are drawing a connection with a growing push to legalize sports betting as proof of public sentiment for all forms of gambling in the Empire State.

To further support this theory, all we have to do is look at one other New York casino. The Rivers Casino and Resort experienced the same boom in business in March. They set their own benchmark for revenue from total game credits, topping February by $25 million.

  
Sam Shefrin is the founder of Lineups.com, Inc. Before Lineups, he started Daily Fantasy Cafe, Inc. in 2014. Armed with a passion for sports and every Atlanta team, his journey continues with the goal of making Lineups a premier sports analytics destination. He has been quoted on Forbes.com for industry insight and his websites featured on NBATV, Yahoo! Sports, Fantasy Pros, Bleacher Report and SB Nation.

Hot New York Sports Betting Stories


Most Read New York Sports Betting