New York sports betting handle reaches $1.36bn in May

The state’s sports betting handle increased by 7.9 per cent year-on-year but fell 11.7 per from last month.

US.- New York’s sports betting handle was $1.36bn in May, up 7.9 per cent from $1.26bn in the same month in 2022 but 11.7 per cent lower than $1.54bn in April of this year. It was the lowest monthly amount since September 2022 ($1.26bn).

Revenue reached $152m, up 38.4 per cent from $109.8m in the same month of 2022 and 9.5 per cent ahead of April 2023 ($138.8m).

FanDuel remained the most popular sportsbook in New York, with $76m in revenue from a $561.4m handle. In second place was DraftKings, which registered $47.7m from $471.1m. Caesars generated $13.9m from a $162.9m handle.

BetMGM recorded $8.9m from $162.9m, Rush Street Interactive $3.2m from $35.9m, PointsBet $1.2m from $19.1m, Wynn Interactive $461,011 from $7.9m handle, Resorts World $416,605 from $4.3m and BallyBet $173,560 from $2.2m in bets.

Seneca Nation and New York reach agreement for new 20-year gaming compact

Following months of negotiations, the Seneca Nation has reached an agreement in principle with New York State for a new 20-year casino gaming compact. The Nation’s current compact, signed in 2002, is set to expire on December 9.

In a press conference, Seneca Nation president Rickey Armstrong Sr said the specific terms will be finalised in the next few days.

He said: “Negotiating a fair compact was critical to the future of the Seneca Nation and the future of Western New York. Throughout months of negotiation, our focus remained on arriving at a fair deal that secured the future of our gaming operations, the vital funding our operations provide for critical services for our people, and the significant jobs and economic benefits they generate in Western New York. We made it clear that we would not settle for anything less.”