Online Gaming Growth Outpacing Retail in New York

The New York State Gaming Commission has released its monthly report detailing the state's gambling performance for May, revealing both growth and declines in various sectors.

In May, the total gross gambling revenue (GGR) for land-based gaming in New York was $57.1 million, representing a 2.7% increase compared to May of the previous year, signaling a steady upward trend.

However, there was a slight 1.5% decline from April’s GGR of $58 million. Of the total, operators netted $43.3 million, while the state collected $13.8 million in gaming taxes, a marginal rise from the previous month.

Breakdown of Land-Based Performance

• Slots and electronic table games generated $40.7 million (71%), making them the top contributors.

• Traditional table games accounted for $15.2 million (27%).

• Poker tables brought in $0.88 million, a smaller but steady portion of total revenue.

Sports Betting Overview

• Land-based sports betting handle dropped from $5.8 million in April to $5.3 million in May, indicating reduced wagering activity.

• Despite the lower handle, GGR rose by 41% month-on-month to $412,824, showing improved profitability.

• Sports betting remains the smallest contributor to the state’s overall GGR.

Online Sports Betting Growth

• The online sports betting handle reached an impressive $1.97 billion, reinforcing its strong popularity among players.

• The GGR for online sports betting was $203.3 million, marking only the second time in history that New York surpassed the $200 million threshold.

• This milestone highlights the continued dominance and potential of the online segment.

Overall, the May report from the New York State Gaming Commission paints a picture of a dynamic and evolving gambling market. While minor fluctuations persist across sectors, the overall trend demonstrates consistent growth and increasing revenue for the state.