The New York State Gaming Commission has approved licenses for nine mobile sports betting operators who will be allowed to begin accepting wagers in early 2022.
The list of approved sportsbooks named by the gaming commission:
- DraftKings
- FanDuel
- BetMGM
- BallyBet
- PointsBet
- Caesars
- Wynn
- KambiBetRivers/SugarHouse
- Resorts World
New York’s sports betting legislation only allows for a limited number of licenses. This resulted in partnerships and consortiums unlike any found in other states in the USA with legal sports betting as operators teamed up to submit their applications.
However, while three consortiums were known to have applied, only two have been approved so far.
The two approved consortiums are:
DraftKings, FanDuel, Bally Sports, and BetMGM
PointsBet, Caesars, WynnBet, Kambi and Resorts World.
Speaking following the announcement, BetMGM CEO Adam Greenblatt said:
“We’re pleased to share that BetMGM has been granted a license to operate mobile sports betting in New York, a state vital to ensuring nationwide leadership in sports betting and iGaming over time. We would like to thank the New York Gaming Commission as well as congratulate them for keeping to their timetable. New York has the potential to be one of the largest sports betting markets in the U.S. and BetMGM is particularly well positioned to become a leader in the state given the strength of the M life customer database, close proximity of Empire City Casino to support our omni-channel strategy, and parlaying our already leading positions in nearby states.”
PointsBet also released a statement in which CEO Johnny Aitken added:
“Today’s news of being recommended by the New York Gaming Commission marks an exciting moment for us at PointsBet. Having the potential to secure market access to New York State — expected to be one of the largest and most important markets in the United States — represents another major milestone for our company, our brand, and our technology.”
As reported last week, the third group that had also applied for a licenses has failed to secure its place in the market. This group consisted of Fanatics and Barstool Sports/ Penn National Gaming. Other notable names that are also absent from the market include Fox Bet, theScore Bet, and Bet365.
New York won’t be quite the lucrative market for operators that the likes of New Jersey or Pennsylvania are thanks to the 51% tax rate imposed on all profits. However, the fact that this rate will be reduced to 35% once all operators are in place and the incredible sporting history of the state, meant that operators were still eager to join the market.
It’s unclear whether or not any further license will be issued at any point in the future.
London based reporter covering all aspects of the global regulated and unregulated land-based and online gambling industry - including business news, sports-betting, casinos, poker & regulation