Growth rate of commercial casino GGR has declined, but sports betting has achieved a growth rate of 16%
 
The New Your State Gaming Commission recently published the financial report for September of 2023, which outlined the performances of commercial casinos, mobile sports betting, and electronic game industry in the state of New York.
 
The report pointed out that, compared with the same period last year, the total GGR (Gross Gaming Revenue) of commercial casinos had decreased by USD 2.1 million, from USD 61.7 million in September of 2022 down to USD 59.6 million in September of 2023. 
Judging from the four commercial casinos addressed in the New York State Gaming Commission report, there was an overall decline of 3%, which even though may not seem significant upon first glance, but there’s no indication of such a phenomenon occurring in other related industry categories.
 
In September of 2023, the GGR of mobile sports betting was USD 165.6 million, which is a 16% increase from last year’s report, where it was only USD 143.3 million. This significant growth rate is mainly attributed to two major brands – FanDuel and DraftKings, in which the former contributed to USD 76.9 million in September 2023 (USD 65.7 million in 2022), whereas the latter contributed to USD 61.4 million (USD 44.9 million in 2022).  
 
Additionally, although the grow rate of electronic games is no match for mobile sport betting, but its revenue has also seen an increase compared with last year. In September 2023, the net profit of the industry was USD 191.7 million, a 6% net profit increase from the USD 180.2 million last year.  
 
Overall, although the revenue of commercial casinos has seen a slight drop, the revenue of the New York gaming industry as a whole did increase. The figures published in this report do reflect a change in player preferences over the past year, as they now have gradually shifted from gambling in  commercial casinos to online gaming.
    
  Despite this, judging from the continued growth of the of the GGR in commercial casinos as shown from the performance of the figures, commercial casinos are far from down and out even though it is experiencing a drop in growth rate. As of now, this industry is still very much preferred by players to a certain extent, and there is still much room for profit in the future.   Growth rate of commercial casino GGR has declined, but sports betting has achieved a growth rate of 16%