New York Casino Revenues Rises by Nearly 5% Month-on-Month and Year-on-Year in November

The New York State Gaming Commission has revealed its casino revenue figures for November 2024. State casinos reporting to the government generated around $56.2 million in revenue, a roughly 4.7% increase from the revenues in November 2023 and October 2024.

Strong Slot and ETG Growth Year-on-Year

Unlike other US states, the New York State Gaming Commission splits its revenues by game types rather than operators. It categorizes casino games into slots/ETGs, table games, and poker tables. Two of these game types posted revenue growth year-on-year, with slots/ETGs leading the state-wide revenue growth.

Slot/ETGs generated more revenues than the other two game types combined, and slot/ETG revenues jumped up by 8.9% year-on-year, breaking the $40 million barrier. That accounted for more than 71% of the total state-wide revenues.

Poker table revenues also increased by 2.2%, although as this is the smallest revenue generator in the state, this only amounted to just over $20,000. Meanwhile, table game revenues actually fell by 5.2% to under $15 million, but the significant growth from slot/ETGs offset this.

Table Games and Poker Step Up from October

Every game type experienced growth month-on-month, but unlike the year-on-year numbers, table games and poker tables powered the significant state-wide growth. Slot/ETG revenues crept up by just 0.2%, adding $83,000 to the total.

While poker tables contributed little, only $10,000 to the pot, they marked a considerable increase in revenues of 13.2%. Table games produced most of the rise, growing by 18.4% month-on-month from $12.6 million to nearly $15 million. 

That increase in table game revenue came from a significant jump in table game spending, which went from nearly $70.2 million in October to almost $73.3 million in November, with only an additional $14,000 in promotional credits.

New York Sweepstakes Lawsuit May Point to Brighter Future for Casino Revenues

While casino revenues in New York continue to grow, a lawsuit against sweepstakes operator VGW, Apple, and Google may point to more significant increases in the future. The lawsuit filed in the Southern District Court of New York considers VGW an illegal casino operator and wants to file some charges under the RICO Act.

Whatever the result of this lawsuit, the restriction on sweepstakes casinos can only encourage gamblers to visit land-based casinos, which may cause a spike in casino revenues in the future. This might be needed as plans for an additional New York casino license have been held up across 2024.