Sports Betting Launch in New York with DraftKings and Others
The New York State Gaming Commission has granted licenses to two groups, consisting of nine casino and online gaming operators, for mobile sports betting launch in the Jurisdiction.
The first group awarded the Sports betting license by New York regulators include big names like DraftKings Inc., MGM Resorts International’s BetMGM venture, Bally’s Corp., and FanDuel, a division of Flutter Entertainment Plc.
The second group, led by online gaming technology provider Kambi Group Plc has top shot members like PointsBet Holdings Limited, Caesars Entertainment Inc., Wynn Resorts Ltd., Rush Street Interactive, and Resorts World, part of Malaysia’s Genting empire.
The New York State Gaming Commission chose the two groups from a list of six groups of bidders that had submitted proposals to the state in August.
The awarding of licenses is the final stage in a years-long process and efforts made by iGaming companies to launch online sports betting in the region.
In 2018, the Supreme Court ruled that states outside of Nevada could offer sports betting, thereby leading to the launch of online sports betting across several newly regulated markets in the US.
The approved operators would pay the state a 51% tax rate for 10 years. New York State Senator Joseph Addabbo, the Democrat who chairs the racing, gaming, and wagering committee, said he hoped the new mobile operators would be up and running by the Super Bowl in February, if not sooner.
This is big. Once we enter the arena, we’ll eclipse New Jersey.