The legal sports betting industry in New York took a step back last week just as it appeared to be recovering from a summer slowdown.
The weekly handle reported by all nine operators in the state for the week ending Sept. 18 came to $296.7 million, down 10% from the previous week, according to the latest gaming commission report. The week ending Sept. 11 had produced the first handle over $300 million since early May. July and August produced the state’s only sub-$1 million monthly handles since the state launched legal sports betting on Jan. 8.
The weekly dip caused some who work with the sportsbook operators to once again raise the issue of the state’s 51% tax rate on gross gaming revenues (GGR), tied with New Hampshire for the highest in the nation.