One of New York’s online sports betting operators is exiting the most lucrative market in the U.S.
Key Takeaways
- Resorts World Bet will cease all operations on June 30.
- The online sportsbook struggled to find footing in a competitive and lucrative market.
- There are potential suitors to take over the ninth license in the Empire State.
Resorts World Bet informed customers on Monday that the mobile sportsbook will cease accepting wagers in the Empire State on June 16. Players must withdraw funds from their accounts by June 22. The sportsbook will close all New York online sports betting operations on June 30.
We wanted to inform you about some important changes regarding Resorts World Bet. We encourage you to take action on any outstanding wagers or withdrawals before these dates to avoid any disruptions. pic.twitter.com/DvnWhrwC3s
— Resorts World Bet (@resortsworldbet) June 9, 2025
Resorts World still operates two in-person casinos in the Empire State, one in New York City and the other in the Catskills Mountains.
The New York Gaming Commission has been made aware of Empire Resorts' intentions to wind down its mobile sports betting operations in the state and has no objection.
Lack of footing
Resorts World Bet struggled to find its footing in a competitive market. Since launching in March 2022, Resorts World Bet has generated a $263.3-million handle and $17.6 million in revenue and finished last in both categories in May, the latest reported monthly revenue figures.
Resorts World has hauled in $3.2 million in year-to-date revenue, just slightly ahead of Bally Bet.
Market leaders FanDuel and DraftKings produced a combined $192 million in revenue in May alone. Fanatics Sportsbook, which entered the market in February 2024, made $18 million last month.
What’s next in N.Y.?
Resorts World Bet is the third operator to exit New York since 2023. PointsBet left the market and sold its U.S. operations to Fanatics Sportsbook in June 2023.
Wynn BET sold its operating license to PENN Entertainment in early 2024 for $25 million. PENN launched ESPN BET in the state in September 2024.
Resorts World’s exit opens up a potential licensing opportunity for a big name, as the New York Gaming Commission will likely want to stay at nine online sportsbooks. BetMGM, Caesars, and BetRivers are also currently operating in the Empire State, leaving bet365, Hard Rock Bet, and Underdog as potential suitors.
Despite a costly 51% tax rate on online sportsbooks, this is still an attractive market. New York has generated nearly $70 billion in wagers, the most of any U.S. state since PASPA was overturned in 2018.
