The New York State Gaming Commission (NYSGC) could announce as soon as this week two groups to offer New York sports betting, according to a report in the New York Post Tuesday that cited sources. If the announcement is this week, the online market is expected to launch before the 2022 Super Bowl in Los Angeles on Feb. 13.
Last week when asked about the timing of the next NYSGC meeting, the commission responded: “We will provide appropriate public notice of the next Gaming Commission meeting.” No date for the next meeting has been posted on the commission’s website.
There were six primary platform applicants for online sports betting in New York.
The New York Post report also said the commission was expected to choose at least two groups to begin online sports betting — one will be the so-called “super group” with sportsbooks Bally’s, BetMGM New York, DraftKings New York and FanDuel New York. That group also includes the Seneca Nation, the Buffalo Bills, the Buffalo Sabres, Major League Soccer’s NYCFC, the New York Yankees and the YES Network.
The other platform provider would be one from Kambi that includes Caesars Sportsbook New York, Resorts World Catskills, PointsBet, Rush Street Interactive (BetRivers New York) and WynnBET, according to the report.
What About Fanatics Bid?
There is uncertainty around the second bid by Kambi with Fanatics — now led by Matt King, formerly of FanDuel, the story said. That bid also includes Penn National Gaming’s Barstool Sportsbook. The Fanatics group has not gotten the same paperwork to sign this week as the two groups that appear to have been selected by the state, the report said.
The operators selected by New York have agreed to pay 51% of their profits to the state based on the tax rate matrix issued by the state. New Hampshire, which also charges 51%, is the only state similar to the path New York will be taking.
For contrast, neighbor New Jersey online sports betting operators share 13% of their profits with the state, newly launched Connecticut is at 13.75% and Pennsylvania charges 34%.
The other three bids were from Bet365 New York, FOX Bet and theScore, now owned by Penn National Gaming.