Resorts World Bet will cease New York sports betting operations at the end of the month, the latest operator to exit the country’s largest and most expensive online market.
The Genting-owned sportsbook notified NY sports betting customers this week that it will cease operations June 30. According to the message, bets and deposits will be accepted through June 16, while users have until June 22 to withdraw any remaining funds.
The decision removes one of the original nine operators that launched when New York’s online sports betting market went live in January 2022. Despite that early foothold, Resorts World Bet never gained meaningful market share.
NY sports betting share struggles
Since launching, Resorts World Bet has taken just $263 million in wagers through May 2025, less than 0.3% of the state’s total online handle over that span.
In May alone, Resorts World Bet generated $769,000 in gross gaming revenue, according to state data. FanDuel, by comparison, led the market in May with $108 million in GGR.
New York’s 51% tax rate on sportsbook revenue has further strained smaller operators’ ability to remain viable. That financial pressure has already prompted other exits, including WynnBET and PointsBet, whose licenses were later acquired for ESPN Bet and Fanatics Sportsbook, respectively.
Another license up for grabs
The status of Resorts World Bet’s mobile license remains unclear. Any transfer would require approval from the New York State Gaming Commission, and potential buyers would need to weigh the steep tax burden against the opportunity to enter the country’s largest sports betting market.
One operator potentially in line is bet365, which joined industry’s Sports Betting Alliance this week. It recently launched sportsbooks in Tennessee and Illinois and plans to launch in Missouri later this year. The global gaming giant has the resources to absorb the state’s high tax rate and is one of the few major brands still on the sidelines in New York.
Downstate casino bid
Genting, which operates both Resorts World New York City in Queens and Resorts World Catskills, remains a leading contender for one of three full commercial casino licenses expected to be awarded downstate later this year. The mobile exit is not expected to affect Resorts World’s bid for a new casino.
In January, the company unveiled a $5 billion redevelopment plan for its Queens property at a ribbon-cutting ceremony attended by local officials and community leaders. If approved for a full license, Resorts World New York City would be able to expand from a slots-only facility into a full-scale commercial casino with table games.
