Resorts World Bet Exits New York Sports Betting Market, Paving Way for New Entrant
💡Summary: Resorts World Bet will shut down operations in New York by the end of June, creating a rare opening in one of the U.S.’s most tightly controlled and lucrative sports betting markets. With only nine legal sportsbook licenses in the state, major operators like Bet365, Hard Rock, and Underdog may now have a shot at entry. |
Resorts World Bet will become the third of New York’s legal sportsbooks to exit the market, opening the door for a new operator to take its place. With a license spot soon to be up for grabs, major betting brands are likely to seize the opportunity to gain a foothold in the lucrative Empire State.
In an announcement made on June 9, Resorts World Bet informed its sportsbook customers that they must withdraw all funds by Sunday, June 22. No further wagers were accepted after June 16, with a formal closure set for the end of the month.
While the potential for additional sports betting licenses has been discussed in the New York Senate, any expansion is unlikely to materialize before 2026, if it passes at all. That leaves a rare, immediate opening in one of the most profitable sports betting markets in the world.
There has been no public utterance from those who may seek to take Resorts World Bet’s slot yet, though. The likes of Bet365, Hard Rock, and Underdog are among those suggested as potential movers.
More Big Hitters Are Likely To Continue Replacing The Also-Rans
We’ve seen bigger betting brands with broader reaches and resources already swoop to replace departing smaller ones in New York, so a precedent and a path are already set.
Resorts World Bet, which never challenged even mid-tier rivals, follows PointsBet and WynnBet in departing the state. Their exits opened the door for Fanatics, which acquired PointsBet’s U.S. assets, and ESPN Bet, which bought Wynn's U.S. operation in 2024.
As of the end of May, Resorts World Bet had generated $3.2 million in revenue, slightly ahead of Bally Bet ($2.9 million). Both trail far behind the market leaders—FanDuel with $457 million and DraftKings with $347 million in revenue.
Those Who Could Follow Resorts World Bet
Of the three names mentioned as prospective newcomers to New York, it is Bet365 that may pique the most interest. The UK-based betting and gaming company was unsuccessful in gaining an Empire State license in 2022. Bet365 operates in 13 states, including New Jersey and Pennsylvania.
Recent reports have suggested Bet365 may be put up for a full or partial sale by the Coates family who own the British brand. A presence in the New York market may be appealing to entice bidders to that process. Bet365 is also increasingly upping its global iGaming offering with legalization still on the cards in New York.
Of the other pair, Hard Rock Bet is live in seven US states. DFS provider Underdog’s sportsbook is operational in North Carolina and has acquired a license in Ohio as it seeks to make a break into the sports betting scene.
Resorts World’s New York Presence Isn’t Over
Though Resorts World Bet is exiting the sports betting scene, its parent company continues to operate a physical casino in New York City and is expected to be among the frontrunners for one of the three new downstate casino licenses under review.
