Resorts World Bet to Shut Down Mobile Sports Betting in New York
Resorts World Bet announced it will cease mobile sports betting operations in New York by June 30, citing fierce competition and a crushing 51% tax rate.
A Tough Exit from the Empire State
Resorts World Bet, one of New York’s original nine mobile sports betting operators, will close its platform on June 30. The Genting-owned sportsbook notified customers on June 9, urging them to settle bets and withdraw funds. Wagers and deposits will stop after June 16, with withdrawals available until June 22. “We encourage you to take action before these dates to avoid disruptions,” the company posted on X. Launched on March 3, 2022, Resorts World Bet struggled to gain traction in a cutthroat market.
New York’s sports betting market, the nation’s largest with $70 billion in wagers since 2018, proved too tough for Resorts World Bet. From January 2022 to May 2025, it handled $263.3 million in bets, less than 0.3% of the state’s total.
In May 2025, its $10.5 million handle and $376,410 in gross gaming revenue (GGR) trailed far behind FanDuel’s $803.1 million handle and $108 million GGR.
New York’s 51% tax on GGR, joint-highest in the U.S., squeezed smaller operators. “The tax burden and low market share made it unsustainable,” said analyst Adam Feldman. Resorts World Bet’s limited promotions, lacking a welcome bonus, also hurt.
Third Operator to Exit New York
Resorts World Bet is the third operator to leave New York’s mobile betting scene. WynnBET exited in 2023, selling its license to ESPN BET for $25 million, which launched in September 2024.
PointsBet sold its U.S. assets to Fanatics for $225 million in June 2023, leading to Fanatics Sportsbook’s February 2024 debut.
Resorts World Bet’s license, costing $50 million for 10 years, could be sold, pending New York State Gaming Commission approval. Potential buyers like bet365 or Hard Rock Bet eye the market’s $2.14 billion annual revenue, despite high taxes.
Genting’s Casino Ambitions Unaffected
The shutdown won’t impact Genting Group’s bid for one of three downstate commercial casino licenses, expected in 2025. Resorts World New York City in Queens, a slots-only racino, is a top contender, per Covers. Genting’s $5 billion redevelopment plan, unveiled in January 2025, aims to transform it into a full-scale casino with table games, backed by local leaders.
“The mobile exit is separate from our casino goals,” said Robert DeSalvio, President of Genting Americas East, emphasizing community reinvestment. Resorts World Catskills, another Genting property, also operates a retail sportsbook, unaffected by the closure.
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