New York State Gaming Commission aims to see a well-rounded sports betting field on a state scale, adding mobile sports wagering to the local range. The commission recently unveiled more details with the help of a lengthy questions and answers session. It was focused on the Request for Applications for mobile betting operators, which launches on July 9.
The month of July was an important one for the local sports betting field, as it saw the greenlighting of a highly anticipated Request for Application seeking two platform providers. Following an initial delay, this process commenced and submissions are being sent. One of the main conditions requires the two providers to have a minimum of four gaming operators as partners.
More details were needed surrounding this process, which is why the gaming commission decided to unveil as many as 29 pages of answers. One of the important questions answered was directly related to the potential providers and the number of bids they can make. As it was clarified, operators and platform providers can make several bids during this Request for Application period.
However, they are not allowed to come up with bids in collaboration with other bidding parties. They could do so, in order to remain within a given tax rate. It should be noted that projections are that the local mobile sports betting field could reach up to a 60-percent revenue share and such conjunction would not do the local field any favor. Another thing bidding parties want to know more about was the way private data would be processed.
They have previously pointed out that private information about the operators should not be made public. The Request for Application requires such details within the bidding process. The gaming commission made it clear that applicant partners should take care of this issue among themselves. Parties bidding in conjunction must handle sensitive information as they deem appropriate.
The Q&A also aimed to answer the question of bid scoring, a topic that worries some bidders. However, not much details were given by the commission. Those available publicly make it clear that a revenue share up to 50 percent adds 15 points to a given bid. No information regarding potential renewal steps was given as well. As for the sports betting field in its current form, the New York Gaming Commission recently issued a revenue report.
It points towards a surge of some 23 percent in gaming revenue over the month of May. This jump was noted in comparison to April’s performance. Total revenue in May reached some US$1.6 million, marking a significant step in the right direction. The four commercial land-based casinos offering in-person sports betting right now are licensed and regulated by the government. The best-performing casino hotspot is Rivers Casino and Resort in Schenectady with some US$641,102.
It is followed closely by Waterloo’s del Lago Resort and Casino and its US$555,855 in revenue. Resorts World Catskills was the third-best performing casino with US$307,607. This is the newest casino resort in New York State and it is located in Monticello. Tioga Downs Casino in Nichols managed to generate some US$85,550 over the weeks of May.
Source: Wayne, Jacob. “New York Sports Betting Update: Gaming Commission Releases Q&A“, LineUps.com, July 26, 2021