Gambling revenue in the State of Louisiana for July was down by 8% from the same month in 2021, according to the Louisiana Gaming Control Board. Riverboat casinos and Harrah’s New Orleans –the state’s only land-based casino– posted $204.2 million in gaming revenue for the month, lower than last year’s $222 million.
As for sports betting, online handle totaled $103.3 million, leading to $19.3 million in revenue or 18.7% hold of the total. Meanwhile, retail sportsbooks saw betting handle of $15 million, with $1.4 million generated in revenue. Combined, total sports betting revenue in the month was $20.6 million, up on a monthly basis by 92.6% from June’s $10.7 million, despite the total handle for July being the lowest in the state since mobile wagering was launched in late January.
While casino gaming –at both riverboats and the sole land-based venue– was down on a year-on-year basis, gambling was up in revenue compared to June, which ended the 2021-22 fiscal year. For instance, Harrah’s New Orleans posted $22.6 million for July, which was up 7.7% from June.
The state’s four racinos were also in line with this month-over-month increase, combining $29.3 million in revenue, an 8.1% boost over June, with Delta Downs Racetrack in Vinton as the leader of the segment at $16.2 million in revenue. The state’s video gaming sector also was up from June –by 2.8%– and the 13 riverboat casinos were up by a slight 0.2% from that month.
However, the revenue figures for all four categories –riverboat, land-based, video gaming and sports betting– combined were down Y-o-Y by 8.5%, with all segments posting declines. Thus, the overall conclusion seems to be that while the Bayou State’s industry compared positively to June this year, it couldn’t match the performance in the same month last year.
For instance, among all casinos, Lake Charles properties posted $78.9 million in revenue, a decline of 1.5%. As for the seven properties in Shreveport and Bossier, these venues saw a decline of 13.1%, putting them at $50.9 million in total gaming revenue; while New Orleans casinos saw a 7.7% drop. Baton Rouge was also in line with the overall declines, being 15.7% down Y-o-Y.
On July’s mixed results within the riverboat sector, Gaming Control Board chairman Ronnie Johns said the effects of competition for Texas gamblers in northwest Louisiana are evident now that a new tribal casino has opened in Oklahoma, reports Louisiana Illuminator. Still, riverboats yielded the most taxes from all sectors, with $32.7 million for the month.
Original article: https://www.yogonet.com/international/news/2022/08/24/63962-louisiana-casinos-post-revenue-down-8–yoy-in-july–but-overall-gaming-up-on-a-monthly-basis-from-june
