For the first time since 2022, commercial casinos in New York surpassed the $60 million mark in revenue in March. The data was released by the New York State Gaming Commission this month.
The state reported that it collected $214.5 million in taxes from gaming through the first three months of 2023, including all New York sports betting. March was the most profitable since New York launched sports betting in 2022, with $163.6 million in adjusted sports wagering gross revenue for the month. Total handle was $1.79 billion, marking the second time the state has just missed the $1.8 billion mark.
FanDuel NY reported $79.5 million in revenue, the top mark in the Empire State in March. That sportsbooks was followed by Caesars and BetMGM, at $15.2 million and $9.6 million respectively.
Casino revenue hits nearly $2 billion in 2022
According to the New York State Gaming Commission’s Annual Report for 2022, the total gaming revenue for all commercial New York casinos was approximately $2 billion for the year, and that figure is likely to soar in 2023.
Commercial casino revenue can be impacted by a variety of factors, including seasonal fluctuations, events, and economic conditions. In March, thanks to the NCAA Men’s Basketball Tournament spiking sports betting, visits to casinos increased statewide.