In a Monday meeting, the New York State Gaming Commission announced that it has made its decision on the two final proposals for the NYS online sports betting regime. As predicted by various reports last week, the commission has selected the proposals by Bally Bet, BetMGM, DraftKings, led by FanDuel, and the other one headed by Kambi.
This summer, the commission started its Request for Applicants that desire to join the state’s initiative of online sports betting. The state’s model will have two platform providers with at least four gaming operators attached to them. In their proposals, gaming companies have to agree to a gross gaming revenue tax of 51% and license for 10 years.
Next Steps
Now with the operators being known to the public, the launch of the state’s mobile sports betting should be on track to arrive before the next Super Bowl in February. Depending on how operators go through the next steps some of them will be able to launch their own products earlier than expected in January just in time for the NFL Playoffs.
The two winning bids are Bally Bet, BetMGM, DraftKings Sportsbook, and FanDuel Sportsbook as primary applicant. The other one is headed by Kambi, and consists of Caesars Sportsbook, PointsBet, Resorts World, Rush Street Interactive, WynnBET. Now according to the law, the servers for the initiative must be installed in the state’s four commercial casinos.
In order for the approved operators to launch their own product, the regulations from the Monday meeting of the commission must be first printed in the state’s register. However, they have conditional licenses. If the approval protocols are submitted by 11:59 p.m. on Tuesday, they will be officially part of the register on November 24, 2021.
Winners’ Statements
Many of the selected companies have issued a statement in order to thank the commission for its recommendation. Such as Bally, as its Chairman Soo Kim stated that the NYS gaming license marks another significant achievement for the company and it improves its footprint on the local gaming scene. He added that the company is looking forward to providing New Yorkers with an engaging, world-class betting experience.
Genting Americas which is part of the Kamby bid package, also celebrated the news, as its President Robert DeSalvio said that this is an extremely exciting time for them and New York gamblers. The company which operates Resorts World New York City was recently rumored to be among the favorites for a full downstate casino license, which the state’s gaming commission will be awarded in 2022.
More News from the State
More recent news from New York State’s gaming industry saw the debut of World Series of Poker coming to the state for the first time. The prestigious tournament will be hosted at Turning Stone Resort & Casino in Oneida County, and it will take place in the casino’s infamous Poker Room, which is the biggest one amongst the state’s gaming properties.
Source: Waters, Matthew “Mobile NY Sports Betting License Winners On Cloud 9”, Legal Sports Report, November 8, 2021
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