Casino News

NYS Commercial Casinos Brace for Sports Wagering Loss

New York State Gaming Commission recently issued the sports wagering performance related to the month of March that has seen quite the turbulence. The unprecedented situation around the globe affected the local gambling field and sportsbooks managed to reach US$99,514 in total sports wagering revenue. The amount was amassed by the four commercial casinos sprinkled across Upstate New York.

The end of every month is a time for retrospection and going over the figures amassed by the state brick-and-mortar casino locations. This gives both casino operators and the gaming commission a better perspective of the general direction which the local field has taken. The month of March managed to see a month-on-month increase even though the local gaming field was paralyzed by the end of the month.

March Sports Betting Revenue

The past couple of weeks have been a rather dynamic not only around the world but across the US too. New York State saw its brick-and-mortar casinos close for business around the middle of March, as social distancing is a practice that should be implemented by more people. Expectations were that this would end up dealing a hard blow to the local casino venues.

As it turns out, the performance ended up exceeding the expectations and brought a slight surge when compared to the month of February. A total of US$99,514 in gaming revenue was generated by the four commercial casino locations sending information to the New York State Gaming Commission. It could be recalled that back then, the sports wagering loss across those same casinos reached US$179,593.

Rivers Casino and Resort in Schenectady managed to rake in the biggest amount by the end of the month. Some US$81,883 in sports betting revenue was generated over the four weeks of the month. It should be taken into account that the month of February witnessed loss amounting to US$38,802. Another popular gaming destination for the people in the region was del Lago Resort and Casino.

Projections About the Future

The month of March witnessed sports wagering revenue of US$53,861 marking a significant drop in the revenue when compared to the previous month. February witnessed revenue reaching some US$98,247. Back then more people found the location an attractive one for betting on live sports events and they were drawn by the DraftKings sportsbook in place. Those two venues were the strong performers of the month, while the remaining two experienced struggles.

The past four weeks saw Tioga Downs report loss reaching US$32,926. The amount was still smaller than the loss experienced over the previous month when the gaming venue hit US$94,030 in loss. Resorts World Catskills experienced quite the rough patch in February but it used the following month to turn towards the light. The casino resort reported loss of US$3,304 marking a significant month-on-month improvement.

All four of the commercial casinos are now under lockdown, as casino players would put their own health at risk if they spend time in an enclosed space. The cards and chips they use together with other players and the dealers, as well as the slot machines could not be sanitized efficiently enough, to prevent an outbreak. Projections are that the US economy is about to lose around US$43.5 billion over the following eight weeks of casino lockdown.