The deadline to submit bids for New York online sports betting licenses ended late this afternoon and a number of powerhouse sportsbook operators want in on the New York action.
The New York Gaming Commission published a list of applicants who applied for a New York online sports betting license. Three companies submitted individuals bids while three groups of companies submitted collective bids.
The New York Gaming Commission will select a minimum of two platform providers and four platform operators. It is expected that each primary applicant in a bid package will serve as a platform provider.
New York Online Sports Betting License Applicants
Here are the bidding groups and listed partners:
- Kambi (primary applicant). Fanatics Sportsbook, Penn Interactive.
- FanDuel Sportsbook (primary applicant). BallyBet, BetMGM and DraftKings (partners).
- Kambi (primary applicant). Caesars, Resorts World, PointsBet, Rush Street Interactive and WynnBET (partners).
- theScore Bet (now owned by Penn National Gaming).
DraftKings all but confirmed they would be involved in a bid last week during their second-quarter earnings call with investors, but few could have seen them teaming with FanDuel, BetMGM and BallyBet in the same application.
It’s unseen how Penn National Gaming’s recent acquisition of theScore will effect the two bid applications that include the companies.
Each bid package will be awarded points by the New York Gaming Commission and must include at least two proposed platform operators to be the front end of the state’s online sports betting program.
Here is how the commission will score the bid packages:
Each bid package received by the New York Gaming Commission for online sports betting platform licenses will be awarded points. Here is how the point "scoring" system will work for New York online sports betting. pic.twitter.com/EUSQQiPmBb
— RLinnehanXL (@RLinnehanXl) July 9, 2021
Platform providers can be included in multiple bid packages (as you can see in the list of applicants) and can be included in more than one selected package by the commission. If they are in multiple selected bid packages, the provider will be required to pay the $25 million application fee for each one.
However, platform operators will only be able to be included in one selected application, not multiple applications, according to the commission.
New York Online Sports Betting by the End of the Year?
If necessary, oral presentations for bid packages will commence on Sept. 1, 2021. The gaming commission will then select applicants who will be considered for licenses by Dec. 6, 2021.
Amended applications will be due a week after applicants are notified that an amendment to their bid package is necessary. Licenses will be awarded at next schedule gaming commission meeting immediately after.
State officials are still hopeful New York online sports betting takes its first bets later this year and will have the product running at full capacity by the 2022 Super Bowl.