Decline in Yearly Commercial Casino Revenue in New York's June by 2.2%
In the gaming landscape of New York, commercial casinos saw a mix of gains and losses in their revenues for June 2024. According to a report from the New York State Gaming Commission, the overall commercial casino gaming revenue, which includes slots, table games, and poker, declined by 2% year-on-year to $55.1 million. However, the report also indicated a significant increase in sports betting revenues.
The decline in commercial casino gaming revenue was primarily due to weaker table gaming performance. Table games revenues dropped by 16.8% from June 2023 to June 2024, reaching $11.8 million. On the other hand, poker table revenues decreased by 2.1% from June 2023 to June 2024, amounting to approximately $862,000.
However, the story was different for sports betting. Retail sportsbooks posted a year-on-year increase of 183.8%, with revenues rising from around $239,000 to $677,000. As a result, sports betting gross gaming revenue (GGR) in June 2024 increased 54.2% year-on-year to $206.5 million, despite a lower betting handle that month ($1.6 billion).
Among the four properties mentioned in the report - Rivers Casino in Schenectady, Del Lago, Tioga Downs, and Resorts World Catskills - three of them saw year-on-year gains. Rivers Casino reported $18.4 million in June 2024, a 2.8% increase from its $17.9 million in June 2023. Del Lago reported $14.2 million in June 2024, a 0.7% increase from its $14.1 million in June 2023. Tioga Downs reported $9.1 million in June 2024, a 1.1% increase from its $9 million in June 2023.
The statewide downturn in casino revenue in June 2024 was driven solely by Resorts World Catskills, which saw a 13% decrease in revenue from June 2023, with revenues falling from $15.4 million to $13.4 million.
It is important to note that the report does not specify individual casinos' revenues from table games, poker, or retail sportsbooks. Additionally, the report does not specify whether any casinos other than Resorts World Catskills experienced a decrease in overall revenue for June 2024.
For context, in July 2024, revenues were up 6% year-on-year at commercial casinos (excluding sports betting). Strong growth continued in sports betting in July as well.
This article was written by Sam Bentham for an unspecified website.
- Despite a decline in commercial casino gaming revenue, the report indicated a significant increase in sports betting revenues, with retail sportsbooks posting a year-on-year increase of 183.8%.
- The gaming landscape in New York showed mixed results for casino-and-gambling establishments, as sports betting revenues increased while casino-games such as table games and poker experienced decreases in June 2024.
