After watching neighboring New Jersey generate $930 million in legal sports betting in November, with the lion’s share from online wagering, New York Governor Andrew Cuomo is reportedly ready to go all in.
“New York has the potential to be the largest sports wagering market in the United States, and by legalizing online sports betting we aim to keep millions of dollars in tax revenue here at home, which will only strengthen our ability to rebuild from the COVID-19 crisis,” Cuomo told the New York Daily News.
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New York-based Seneca Gaming Corporation's online casino partner, Bragg Gaming Group Inc (CVE:BRAG) (OTCMKTS:BRGGF) noted that Cuomo is ready to bring New York sports betting into the modern era.
“Jurisdictions around the world are modernizing their gaming regulations to reflect today’s global gaming market, and New Yorkers stand to benefit from a regulated, legalized online gaming system that keeps revenue in the state,” Bragg Gaming chief strategy officer Yaniv Spielberg told Proactive.
“We think that the move to legalize online gambling will be beneficial for the state, the players and the operators. We see a bright future for legalized online gaming in the state of New York.”
In November last year, Bragg Gaming signed a deal with Seneca Gaming Corporation to provide casino services and player account management (PAM) to three casinos in western New York. The deal, done through Bragg subsidiary ORYX Gaming and in partnership with global sports betting provider Kambi Group PLC, is the company’s first involvement in the US gaming market.
The Bragg-Kambi partnership will provide Seneca Gaming’s facilities with ORYX’s online gaming platform, including a PAM system, a gaming portal for both desktop and mobile and casino services, all integrated with Kambi’s portfolio of on-property sports wagering products. The US casino and sports betting market is rapidly expanding, and ORYX’s expertise in PAM, casino, marketing and operations services and integrations between land-based and online positions Bragg Gaming well to take advantage of this growth.
“We have an agreement with Seneca and would like more and more New York operators to choose Bragg Gaming as their gaming technology partner,” added Spielberg.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive
