News

Fitch forecasts $450M EBITDA for Resorts World New York City by 2028 despite Genting downgrade

Fitch downgraded Genting and related entities while projecting Resorts World New York City will generate $450 million in EBITDA by 2028.

BetMGM CEO says regulated sportsbooks still have edge over prediction markets before NFL season

BetMGM CEO Adam Greenblatt said the operator feels highly optimistic heading into the NFL season and argued regulated sportsbooks still offer a stronger product than prediction markets.

Caesars asks federal court to dismiss Cayuga Nation suit over bets allegedly placed on tribal land

Caesars Sportsbook has moved to dismiss a Cayuga Nation lawsuit that claims the operator accepted mobile sports bets from users physically located on the tribe’s reservation in New York.

New York tells federal court CFTC’s Kalshi emergency order is ‘irrelevant’

New York’s attorney general office urged a federal court not to give weight to the CFTC’s emergency order that told Kalshi to keep operating in the state, arguing the directive has no persuasive or evidentiary value.

Fitch Says Resorts World New York EBITDA Could Reach $450M by 2028 as Expansion Spending Pressures Credit

Fitch affirmed Genting New York at BBB- with a stable outlook and said Resorts World New York’s EBITDA could rise to about $450 million by 2028, though billions in expansion spending will weigh on credit metrics during construction.

Fitch cuts Genting rating as Resorts World New York City expansion drives spending

Fitch downgraded Genting Berhad to BBB- and pointed to heavy spending on Resorts World New York City and Singapore projects, with New York expansion costs a central factor.

Digging For Gold takes $8,500 Open Pace at Vernon Downs

Digging For Gold won Vernon Downs’ $8,500 Open Pace in 1:50.4 on Sept. 7, while the track is set to resume live racing Friday, Sept. 11.

New York weekly online sports betting handle climbs to $420.3 million

New York’s mobile sportsbooks combined for $420.3 million in handle and $39.3 million in gross revenue for the week ending Aug. 30, with DraftKings leading handle and FanDuel leading revenue.

New Jersey asks U.S. Supreme Court to settle prediction markets fight as Nevada hardens stance

New Jersey has petitioned the U.S. Supreme Court to decide who regulates sports event contracts nationwide, while Nevada regulators say prediction markets are illegal gambling if they bypass state licensing.

Robinhood CEO Says States May Be Defending Gambling Tax Revenue by Opposing Prediction Markets

Robinhood’s chief executive says state resistance to prediction markets may be tied to protecting gambling tax revenue, a claim that lands squarely in New York, where mobile sportsbooks are taxed at 51%.