Sports betting

Jason Ader: New York operators likely to face ongoing profitability concerns

Gaming industry expert suggests US investors’ patience “wearing thin” amid lack of realization of investments in tier-one operators

New York’s licensed sports betting operators face a “negative spiral” of trying to generate profitability in the Empire State amid its 51% tax rate on gross revenue, says SpringOwl Asset Management founder and CEO Jason Ader. Geolocation specialist Geocomply reported a record high for transactions for the first 12 hours of New York going live,…

Caesars | DraftKings | FanDuel | Jason Ader | New York | Sports betting | US