Resorts World Bet, Genting's mobile app for online sports betting in New York, will exit the largest US online sports betting market on June 30. 

The gaming firm, which faced challenges in achieving sufficient market share in the state despite being one of the nine initial licensed operators, announced to customers today that Resorts World Bet will permanently shut down on June 30.

"Effective immediately, you will be able to place wagers and make deposits until June 16, 2025,” according to the customer message. “However, please be aware that withdrawals must be made by June  22, 2025 to ensure they are processed before the platform closes.”

The app and the land-based casinos at Resorts World are managed by the parent company Genting Bhd. Genting, based in Malaysia, is a vast conglomerate with ventures beyond the gaming sector. Its casino assets comprise locations in Singapore, its home nation, and the US, although these properties primarily operate as independent entities. 

Resorts World New York not the first to exit the state. 

Mobile sports betting was launched in New York in January 2022, and even with the late start compared to other states, New York capitalized on being the most populated state with a legal sports betting market to establish itself as the clear leader in regulated sports wagering in the US. 

However, the legal sports betting market in the Empire State is similar to other states in that FanDuel and DraftKings possess a large portion. There have been unexpected developments, such as Fanatics rising to the third position in the state, but Resorts World Bet does not have the brand visibility of those competitors and therefore has faced challenges in capturing share in the fourth-largest state. 

For instance, FanDuel generated $108.8 million in May gross gaming revenue (GGR) in the state based on a handle of $803.1 million, while Resorts World Bet recorded only $769,446 and $9.1 million, respectively. 

The app run by Gentng is not the inaugural one to depart from New York. In early 2024, Wynn Resorts’ WynnBet took this step as part of the operator’s wider exit from online gaming, with its license being obtained by Penn Entertainment’s ESPN Bet. 

New York regulators might sell Resorts World Bet’s license to another gaming firm, but the state’s 51% tax rate—the highest nationally—could reduce the number of interested bidders. Bet365 is a company with the means to withstand that tax impact, but it hasn't indicated a near-term plan to enter New York. 

No Consequences for Resorts World Casino Proposals 

In New York, Genting operates two physical casinos. These are Resorts World Catskills and Resorts World New York in Queens, with the latter regarded as one of the strongest candidates for one of the three downstate licenses that regulators may grant by the end of this year. 

The slots-only gaming venue in Queens has generated significant revenue for the state over its 14 years of operation, and those earnings would likely increase if Genting is permitted to transform it into a traditional casino featuring table games. Regulators have not made any statements about this, but it seems improbable that the closure of Resorts World Bet will hinder the owner’s pursuit of a downstate license. 

If it succeeds in that endeavor, it’s probable the operator would manage the retail sportsbook as it does in the Catskills and at its resort on the Las Vegas Strip.