NY lawmakers push for faster casino licensing to boost revenue
Two New York state lawmakers are promoting the speed up of casino permits in New York City, claiming that the state is losing out on billions of dollars in potential revenue...
New York regulator publishes May performance report
New York’s sports wagering and video gambling sectors both saw slight increases in revenue in May.
The state’s mobile betting operators experienced a sizable increase in revenue in the period, which went up from last year’s 110 million dollars to 152 million dollars, making for a year-over-year increase of just under 40%. The figure was also up in comparison to this year’s April, during which operators made 138 million dollars, which makes for an increase of just over 9% in the span of a month.
These increases were achieved in spite of the state’s betting handle decreasing significantly in the month when compared to April, going from 1.54 billion dollars to 1.36 billion dollars. In comparison to last year’s May, however, the state’s wagering handle went up by just under 8%.
The regulator published a report on the state’s retail gambling terminals as well, which generated 202.5 million dollars in May. This was up from last year’s 189 million dollars by 7% and from April’s 199 million dollars by just over 1%.
The total amount of credits used to play on New York’s gambling terminals in the month was worth just over 3.3 billion dollars, which remained steady when compared to the month of April and went up slightly from last year’s 3.2 billion dollars. The report also added that in May, each of the state’s gambling terminals generated about 372 dollars per day.
Strong opposition to proposed Times Square casino hotel
A casino hotel being built in the area is largely unpopular with residents living near Times Square as indicated by a recent poll carried out by Tulchin Research.In a...
