Summary
- In August, the betting handle soared beyond $2 billion, with revenues reaching an impressive $178.2 million.
- Last month, DraftKings, FanDuel, and Fanatics emerged as leaders, boasting the highest handle and net revenue reported.
- In August, the casino saw a remarkable rise in revenue and activity compared to both the same month last year and the previous month.
August proved to be an exhilarating month for licensed sports betting and casino operators in New York, as highlighted by fresh financial data. The New York State Gaming Commission has just released a report detailing the performance of betting and casino companies last month, showcasing a notable rise in revenue.
Betting firms post revenue growth, proceeds to education soar
In a remarkable turn of events, the total sports betting handle for August soared past the $2 billion threshold, a feat not seen since May. Licensed betting operators reported a staggering $2,044,463,754, marking a clear rise both month-over-month and year-over-year. Last August, the mobile betting handle was $1.44 billion, but this year, it shot up to an impressive $2.04 billion. Just a month prior, in July, the sports wagering handle was at $1.40 billion, falling significantly short of this newfound $2 billion-plus mark. Unsurprisingly, mobile sports wagering gross gaming revenue (GGR) followed suit, reaching $178.2 million, a jump of over $50 million from the $125 million earned the same month last year. The New York State Gaming Commission's breakdown shows that net revenue to platform providers and education saw a dramatic rise in August. Operators recorded $87.3 million in net revenue this year compared to the $61.2 million in August 2024. Net revenue for education also surged from $63.8 million last year to $90.9 million this year.
DraftKings, Fanatics and FanDuel retain dominance in August
In August, DraftKings, Fanatics Sportsbook, and FanDuel cemented their dominance in New York by achieving the highest figures in mobile betting. DraftKings led the pack with an impressive $579.6 million in betting, followed closely by Fanatics with $565.8 million. FanDuel secured the third spot with $561 million. Yet when delving into net revenue, the story unfolds differently. DraftKings recorded a net revenue of $30.5 million last month, while their contributions to education climbed to $31.8 million. Although Fanatics Sportsbook boasted the second-highest betting handle, they recorded a net revenue of $7.9 million, with $8.2 million going towards education. In a different light, FanDuel emerged as the net revenue frontrunner with $32.8 million, channeling $34.1 million into educational contributions. This data from the Commission reveals the nuanced dynamics of the betting landscape in New York.
Revenue and handle reported by casinos in New York records solid growth
In August, casino operators reported impressive increases in revenue, both compared to the previous month and year. The operators' handle surged to an astonishing $587.7 million, setting a record high for the year. This achievement wasn't just a slight uptick from the $555.6 million recorded in July; it also easily topped the $545.7 million from the same period last year. Moreover, the total gross gaming revenue rose significantly, nearing an impressive $65 million. This figure stands as the best performance since the year began, a testament to the thriving gaming industry.
