Stock Market Buzz: New York OSB, Monarch Casino Enterprises, Tariffs, Pedestrian Traffic
In the world of online sports betting, New York continues to shine, with robust year-over-year growth and record levels of betting activity. However, recent monthly figures show a seasonal dip, following major sports events [1].
According to data from June 2025, online sports betting revenue dropped 17% from May 2025’s $248.9 million to $206.5 million, and betting handle dropped 25.4% to $1.65 billion from May’s $2.21 billion [1]. Despite this monthly decline, June 2025’s revenue and handle were significantly higher than those of June 2024, indicating overall growth [1].
A closer look at the numbers reveals that New York’s sports betting market has seen explosive growth since the launch of mobile betting in early 2022. Annual betting handle increased from roughly $197 million in 2021 (retail only) to about $22.7 billion in 2024. Correspondingly, gross gaming revenue (GGR) rose from around $23 million in 2021 to approximately $2.05 billion in 2024, and tax revenue grew from roughly $2.3 million to over $1 billion [2].
FanDuel and DraftKings lead New York’s market, with FanDuel generating $86.3 million revenue from $563.7 million handle in June 2025, and DraftKings $69.8 million from $607 million handle [1]. Fanatics has recently risen to become the third-largest sportsbook by handle, surpassing BetMGM and Caesars [1][4].
Elsewhere in the United States, Pennsylvania's casino foot traffic in June was up +5.4% and +2.5% year-over-year, while Atlantic City's casino foot traffic was down -8.5% year-over-year and -19.5% compared to 2019 [5]. In contrast, Illinois' casino foot traffic in June was down 2% compared to the same period last year and running -13.1% lower compared to 2019 [5].
In the casino sector, Monarch Casino & Resorts' second-quarter Adjusted EBITDA was $51.3 million [6]. Jeffries' analyst David Katz noted that these earnings exceeded expectations, but specific location competition and renovations are affecting certain casino foot traffic [6]. The absence of external growth leaves the risk/reward for Monarch Casino & Resorts relatively balanced [6].
Looking ahead, handle for 3QTD online sports betting in New York is tracking +9% year-over-year [7]. J.P. Morgan analyst Daniel Politzer reviewed New York State's online sports betting on July 17 [8].
References:
[1] New York's online sports betting market shows signs of a recent revenue and handle decline
[2] New York's online sports betting market: a look at the numbers
[3] New York's online sports betting market: a strong start to the year
[4] Fanatics rises to become third-largest sportsbook in New York
[5] Casino foot traffic trends post-COVID
[6] Monarch Casino & Resorts' second-quarter earnings exceed expectations
[7] Handle for 3QTD online sports betting in New York is tracking +9% year-over-year
[8] J.P. Morgan analyst reviews New York State's online sports betting
- Despite the dip in June 2025, New York's casino-and-gambling culture, as demonstrated by online sports betting, still shows overall growth compared to the previous year, according to data analysis.
- In the casino industry, casino personalities like Jeffries' analyst David Katz discuss the impact of specific location competition and renovations on casino culture, affecting foot traffic in certain casinos.
- Simultaneously, while New York shines in the world of online sports betting and casino-games, the sports-betting market in other states like Pennsylvania, Atlantic City, and Illinois exhibits varying trends in casino foot traffic compared to pre-pandemic and previous years.
