Sports betting in New York: ESPN Bet receives licence approval

The New York State Gaming Commission has voted to transfer Wynn Resorts’ digital sports betting licence to Penn.

US.- The New York State Gaming Commission (NYSGC) has voted to transfer Wynn Resorts‘ digital sports betting licence to Penn Entertainment. The move means that ESPN Bet could be live in the state for the weekend.

Chris Rogers, Penn’s executive vice president, chief strategy and legal officer and secretary, told the regulator that the company still has “a few boxes to check” before going live to “make sure that we are right from a technology standpoint but that it “would be prepared to launch in a matter of several days. Perhaps even a soft launch in advance of the weekend with approval here today.”

In August, WynnBet stopped taking bets in New York after agreeing to sell its New York mobile sports betting licence to Penn Entertainment.

Penn is rebranding its retail sportsbooks in sports-centric markets to ESPN Bet, which launched in November. The first ESPN Bet-branded retail sportsbook opened at Hollywood Casino at Greektown in Detroit in April.

New York mobile sports betting handle hits $1.44bn in August

New York’s mobile sports betting handle was $1.44bn in August, up 28.8 per cent year-on-year and 13 per cent from July ($1.26bn). According to the New York Gaming Commission, revenue reached $125m, up by 26.9 per cent compared to August 2023 but 10.9 per cent behind July of this year.

FanDuel and DraftKings accounted for around two-thirds of GGR. The former saw GGR up 25.1 per cent to $52.6m from a $511.6m handle. DraftKings remained on top in terms of handle with $526.7m, up 17.9 per cent year-on-year, but was behind FanDuel in GGR at $43.4m up 22.9 per cent.