Winning Mobile NY Sportsbooks Will Be Selected Monday – Legal Sports Report

The winning bidders who will get to launch mobile NY sportsbooks will be announced Monday, wrapping up a four-month process.

The New York State Gaming Commission published the agenda for Mondays 1:30 pm meeting, which includes Mobile Sports Wagering Consideration of License Recommendation. Mobile NY sports betting regulations are also up for adoption at the meeting.

There is not much excitement around which of the six bidders will win at this point. The New York Post reported earlier this week that the two largest consortia will be licensed for NY sports betting:

Those winners would have gross sports betting revenue taxed at 51%.

The Post only mentioned one other bid specifically Fanatics, Penn Nationals Barstool Sportsbook and Kambi. A source close to the group said it had not received the same paperwork to sign as the expected winning bidders received.

Barstool being on the outside seems even clearer after Thursdays Penn investor conference call. Penn CEO Jay Snowden gave an assessment of the market awaiting mobile NY sportsbooks and did not mince words:

I think, objectively speaking, youd probably rather be in than not be in, but its one of those states where if youre not in youre not crushed by that either. Maybe from a TAM perspective and a revenue perspective but I think its just going to be a margin killer. I think its going to be an EBITDA detractor.

Lee Fenton, CEO of Ballys, offered a stark contrast to Snowdens outlook on Ballys call:

Obviously, I think it will change the cost dynamic for all operators that enter that market in terms of how they might address and attack that market but, clearly, New York is not a market that you want to miss out on.

MGM Resorts CEO Bill Hornbuckle all but confirmed BetMGM will launch on MGMs conference call:

I will tell you it is the largest market we have launched to date with the MLife database, Hornbuckle said. Time will tell with sports how much money is to be made. For us, its an omni-channel play. Its a brand play and were going to have a huge presence there. And hopefully someday we get to online, icasino, but thats something for well down the road.

New Jersey sportsbooks and recently launched Connecticut sports bettingwill still feel a boost from New York bettors for a while.

There is still work to be done before mobile NY sports betting can launch; its not as simple as flipping a switch. Sen. Joe Addabbo Jr. reiterated a lot of the launch timeline comes down to when servers will be ready at New Yorks commercial casinos.

Addabbo just two weeks ago stuck to his guns that legal Super Bowl betting will take place in New York this February, which now seems much more likely:

Ill stick with the aggressive optimism that were going to do this hopefully by the beginning of the year and certainly by the Super Bowl.

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Winning Mobile NY Sportsbooks Will Be Selected Monday - Legal Sports Report