New York gaming shows stagnant land-based results amid record-breaking online sports betting numbers

June 10, 2024 2:40 PM
Photo: Shutterstock
  • Sam Bentham, Special to CDC Gaming Reports
June 10, 2024 2:40 PM
  • Sam Bentham, Special to CDC Gaming Reports

A monthly report released by the New York State Gaming Commission shows the state’s land-based gross gambling revenue in May was $57.1 million, a 2.7 percent increase from the previous year but a 1.5 percent decline from April’s $58 million.

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Of the total GGR collected in May, $43.3 million went to operators as net revenue. Meanwhile, the gaming tax collected stood at $13.8 million, a marginal increase from the gaming tax collected in April.

Most of May’s GGR was generated from slots and electronic table games, adding $40.7 million, accounting for 71 percent of the statewide GGR. An additional $15.2 million GGR was generated from traditional table games, accounting for 27 percent of the land-based total. Poker tables generated $0.88 million.

The state’s land-based sports betting handle decreased from $5.8 million in April to $5.3 million in May. Even with this drop, month-on-month GGR for sports betting saw a 41 percent increase to $0.4 million.

Despite this increase, sports betting was the smallest contributor to the state’s land-based GGR. It was a different story for online sports betting, which generated $1.97 billion and $203.3 million in handle and GGR, respectively. May was the second time in New York’s history that the total GGR surpassed $200 million.