Surge in New York Online Sports Betting
New York online sports betting has seen positive growth, as confirmed by J. P. Morgan analyst Daniel Politzer on July 17. Recent data from the N.Y. Gaming Commission shows a 3% increase in OSB revenue year-over-year for the third quarter to date. The handle has also grown by 9% compared to the previous year, with a hold rate of 10.7%, down from the last year’s 11.3%. For the week ending July 13, revenue was up by 2% year-over-year, with an 8% increase in handle, resulting in a 10.6% hold rate versus 11.3% in 2024.
Monarch Casino Shows Positive Prospects
Monarch Casino & Resorts is experiencing promising trends, according to Jefferies analyst David Katz. Their second-quarter earnings report revealed an Adjusted EBITDA of $51.3 million, slightly above the anticipated $51.1 million. Renovations in Reno and market share gains in Black Hawk contributed to this success. Consequently, estimates for Reno have been adjusted upwards, reflecting an expected ramp-up.
Tariffs Impact on Gaming Sector
Truist Securities’ Barry Jonas analyzed the influence of tariffs on gaming, stating on June 16 that the industry has significantly recovered from the tariff-driven disruptions of Q1. He observed that the regional, local, and digital markets appear promising, despite some expected volatility in Las Vegas. Jonas also upgraded Red Rock Resorts to a Buy rating, predicting a robust Q2 performance.
Casino Foot Traffic Trends
David Katz from Jefferies highlighted an increase in casino foot traffic, particularly in Pennsylvania, which saw a 5.4% rise in June year-over-year, with an overall increase of 22.2% compared to 2019. Massachusetts saw a 7.5% rise. However, Atlantic City’s June volumes fell by 8.5% year-over-year and by 19.5% compared to 2019 levels. Illinois reported a 2% decrease year-over-year and 13.1% below 2019 figures. Katz attributed these trends to the normalization of post-COVID traffic, competition, and venue-specific renovations. Read more news.
