The New York Gaming Commission’s latest report for December 2023 has unveiled staggering figures, marking a monumental moment for the state’s gaming industry. With a gross gaming revenue (GGR) of $188.3 million in mobile sports wagering, New York not only achieved its highest monthly GGR for 2023 but also witnessed a remarkable 32.8% year-on-year increase.
This substantial surge in revenue translated into significant gains for education funding, with the net revenue hitting an impressive $96 million—nearly reaching the $100 million milestone, making it the highest education contribution for the year.
Despite a slight decline from November, where the state recorded its peak with a mobile sports wagering handle of $2.11 billion, December maintained momentum with a notable $2.04 billion. This consistent trend marked three consecutive months surpassing the $2 billion mark, following New York’s pioneering achievement in October as the first state to hit this milestone.
Comparing December 2023 to the same period in 2022, the year-on-year increase in mobile sports wagering handle stood at an impressive 25.8%, highlighting the industry’s robust growth.
Breaking down the performance of key players in the market, FanDuel reported a GGR just shy of $100 million, marking a substantial increase from November’s $69.2 million. DraftKings closely followed with a GGR of $65.2 million, reversing the scenario observed in Ohio, where DraftKings outpaced FanDuel in November’s online sports gaming taxable revenue.
Meanwhile, BetMGM maintained its impressive streak, recording over $100 million for the fourth consecutive month in mobile sports wagering handle, reaching an impressive $126.5 million in December.
In a separate development related to the New York gaming landscape, property owners at 10 Times Square united in endorsing the proposal to introduce a Caesars Palace Times Square casino at 1515 Broadway, signaling potential expansion and diversification within the state’s gaming sector.
The record-breaking figures and continued momentum in the gaming industry showcase New York’s prominence and potential for further growth, setting a robust foundation for the state’s gaming landscape in the coming year.
