Resorts World Bet Withdraws Sports Betting In New York

The company was one of the 9 sportsbooks to enter the market when New York sports betting was launched in January 2022. It will stop accepting bets from June 16, with users given until June 22 to withdraw any remaining funds in their accounts.

In 2024, Resorts World Bet reported revenue of $3 million, just a 3.6% hold from a betting handle of $89.6 million. New York is the only state where the casino operator has introduced a sportsbook, tied to its three casinos across the state.

Space open for new operator

New York has a cap of 9 sportsbooks, a limit set when the state opened up its market in 2022. The current 9 operators are:

• FanDuel

• DraftKings

• Caesars Sportsbook

• BetMGM

• PointsBet

• BetRivers (Rush Street Interactive)

• ESPN

• Resorts World Bet

• Bally Bet (relaunched in 2024 after a brief pause)

One of the original operators, Wynn Bet, ended its operations in the state last year and subsequently sold its license to the newly formed ESPN Bet, the sports betting branch of PENN Entertainment. ESPN Bet paid $25 million for the license in February last year.

Resorts World to focus on casinos

The end of Resorts World Bet in New York could well be the end of the company’s foray into sports betting. Instead, the company is planning to expand its New York casinos, with a $5 billion redevelopment plan in Queens.

The company also has development projects in Macao and Manila, expanding on its six active casinos under the Genting group in Asia.

Adam Roarty

Adam is an experienced writer with years of experience in the gambling industry. He has worked as a content writer and editor for five years on sites such as Oddschecker, CoinTelegraph and Gambling Industry News, bringing excellent knowledge of the world of sports betting and online gambling. Adam focuses on emerging stories in the ever changing landscape of betting in the US. Read the latest on prediction markets, changing legislation, and sweepstakes.