The New York State Gaming Commission recommended nine mobile NY sports betting operators be licensed at its Monday meeting.
The two winning bids:
- Bally Bet, BetMGM, DraftKings Sportsbook and primary applicant FanDuel Sportsbook.
- Caesars Sportsbook, PointsBet, Resorts World, Rush Street Interactive, WynnBET and primary applicant Kambi.
Those sportsbooks will see gross sports betting revenue taxed at 51%. All nine will be licensed for 10 years based on the tax rate.
When will New York sportsbooks launch?
The timeline detailed in the RFA allowed for this process to drag into December and potentially January. Now that the licenses are approved more than a month before expected, some operators could launch the market during the NFL Playoffs in January.
Sen. Joe Addabbo Jr. told LSR much of that launch timeline will revolve around the servers placed in New York’s four commercial casinos. Those servers are the lynchpin to the entire market since the bets need to be routed through a casino property to fit the definition of on-site casino gaming.
Technically, no operator can launch until the regulations approved Monday are printed in the state register even though they have conditional licenses. If those regulations are submitted by 11:59 pm Tuesday, they’ll be printed Nov. 24.
What mobile NY sports betting bids failed?
- Barstool Sportsbook and Fanatics Sportsbook with primary applicant Kambi
- FOX Bet
- theScore Bet
Bids required a technical score of 60 out of 75 points based on the scoring system in the RFA to be considered a qualified applicant.
Only bet365’s bid had a high enough score to be considered for a license, but the committee could not determine including bet365 would increase revenue to the state. Including bet365 also would have dropped the tax rate to 50%.
What winners are saying about NY sportsbooks
Most winners issued celebratory statements soon after the announcement.
BetMGM CEO Adam Greenblatt:
“We’re pleased to share that BetMGM has been granted a license to operate mobile sports betting in New York, a state vital to ensuring nationwide leadership in sports betting and iGaming over time.
“We would like to thank the New York Gaming Commission as well as congratulate them for keeping to their timetable. New York has the potential to be one of the largest sports betting markets in the U.S.”
Caesars CEO Tom Reeg:
“We’ve been looking forward to the opportunity to bring mobile sports betting to New York. With more than 19 million people, New York will be the biggest mobile sports betting market in the country, and we feel we are uniquely positioned to bring an incredible product to that market.”
PointsBet US CEO Johnny Aitken:
“Having the potential to secure market access to New York state – expected to be one of the largest and most important markets in the United States –represents another major milestone for our company, our brand, and our technology.”
Bally’s Chairman Soo Kim:
“This license advances our overall market footprint and marks the latest milestone on our journey towards becoming the leading omni-channel gaming provider in the U.S. Above all, we look forward to providing New York’s devoted fan base with engaging, best-in-class, sports betting experiences.”
Genting Americas East (Resorts World Bet) President Robert DeSalvio:
“This is an extremely exciting time for New Yorkers as we get ready to launch the leading mobile sports betting program in the country. … We are grateful to the Gaming Commission for recommending our team and look forward to continuing to work with our partners in Albany as we get even closer to the moment millions of New Yorkers have been waiting for.”
Wynn Interactive CEO Craig Billings:
“New Yorkers represent a significant portion of the Wynn Las Vegas and Encore Boston Harbor databases, and we look forward to giving those customers more ways to earn and use Wynn Rewards. We also look forward to meeting and engaging with new customers in the state via WynnBET.”