Louisiana Gaming Revenue Shows Mixed Trends in October

Louisiana’s gaming industry reported revenue of $180.6 million, a 3.5% increase from the same period last year, according to the Louisiana Gaming Control Board. This growth was driven by strong performances in multiple districts, although some areas faced declines.

Online Sports Betting and Regional Trends

Online sports betting emerged as a significant contributor, generating $42.3 million, reflecting a 6% increase year-over-year. The handle—the total amount wagered—saw a notable 33% rise, reaching $368 million.

Most of the state’s gaming districts experienced revenue growth, with the exception of Shreveport/Bossier City. The Shreveport/Bossier City region reported a 9.7% revenue decline compared to October 2023, bringing in $40.5 million.

District-by-District Breakdown

The Lake Charles district reported total revenue of $64.0 million, marking a 1.0% year-over-year increase. Leading this district was the Golden Nugget Lake Charles, which generated $23.9 million, up 1.2% from the previous year. L’Auberge Casino Resort earned $22.6 million, a 1.6% rise, while Delta Downs saw a significant 10.5% increase, bringing in $12.1 million.

The New Orleans district posted a robust 23.2% revenue increase, totaling $49.1 million. Harrah’s New Orleans led with $22.2 million, reflecting a 12.9% year-over-year increase. Treasure Chest Casino recorded an impressive 80.9% surge, generating $11.4 million, and Boomtown Casino & Hotel saw revenue climb by 11.4% to $9.6 million.

In contrast to other regions, the Shreveport/Bossier City district experienced a downturn, with total revenue falling to $40.5 million. However, some properties still reported gains: Margaritaville Resort Casino’s revenue rose by 2.6% to $14.8 million, and Bally’s Shreveport Casino & Hotel saw a 6.4% increase, reaching $8.6 million. Horseshoe Bossier City, however, faced a substantial 43.7% drop in revenue, earning just $7.5 million.

The Baton Rouge district achieved a 2.6% year-over-year increase, with total revenue of $21.1 million. L’Auberge Casino Hotel led with $13.6 million, up 2.6%. The Queen of Baton Rouge posted a 13.3% increase, earning $7.2 million, while the Belle of Baton Rouge reported a sharp 59.2% revenue decline, totaling $0.3 million.

Riverboat casinos in Louisiana generated $134 million in October, reflecting a 2% year-over-year decline. Year-to-date revenue for riverboats reached $549 million, a 1% drop from last year.

Revenue from racetrack slot machines remained steady, increasing slightly by 0.2% to $24 million. Year-to-date, racetrack slots saw a minor decline of 0.1%.

Revenue from video gaming devices rose 6% year-over-year, totaling $63 million in October. Growth was primarily driven by bars and restaurants, which offset minor declines at truck stops and racetracks.

Louisiana’s Gaming Landscape

Despite challenges in specific areas, Louisiana’s gaming industry demonstrated resilience in October. Strong growth in online sports betting and solid performances in districts like New Orleans and Lake Charles underscore the sector’s ongoing recovery. However, declines in regions such as Shreveport/Bossier City and specific venues like the Belle of Baton Rouge highlight areas of concern.

Source:

”Louisiana: October gaming revenue up across the board”, cdcgaming.com, November 25, 2024.

”Louisiana Gaming Control Board Reports”, lgcb.dps.louisiana.gov.