Louisiana Gaming Revenue Rebounds, February Win Climbs to $194.5M

The Pelican State gaming manufacture remains rattled, but February showed signs that the downward running might follow nearing its end.

The Pelican State Gaming Control Board this calendar week reported that February receipts gaming revenue (GGR) from in the flesh(p) slot machines and tabularize games at the state’s riverboats, land-based casinos, and racetracks totaled more than $194.5 million. Compared with February 2023, finally month’s win represented a 1% improvement.

One percent mightiness non seem the likes of much. But for a marketplace that’s seen gaming revenues decline twelvemonth o'er yr inwards 10 of the previous 12 months, it’s a major victory.

The state’s 12 riverboats and triplet brick-and-mortar casinos won $166.8 meg turned gamblers, a 0.9% premium from a yr ago. The state’s Little Joe racetracks that proffer slots saw win mounting 1.5% to $27.7 million.

Winners and Losers

Harrah’s New Orleans, I of only when leash brick-and-mortar casinos in Louisiana, was among the biggest winners endure month in terms of year-over-year increases. The downtown Big Easy casino saw its GGR rebound to a greater extent than 10% to $23.8 million, a clear of nearly $2.2 million.

The trine casinos inwards Baton Rouge — the Belle, Queen, and L’Auberge — combined to win $22.8 million, a 10.7% surge from Feb 2023.

The Shreveport/Bossier market posted a cold-shoulder 0.3% year-over-year revenue increase to $44.2 million. Margaritaville remained the upper side operator at $16.7 million.

The troika New Orleans riverboats — Amelia Belle, Boomtown, and Treasure Chest — won 0.5% more money from players to escalate their win to $20.3 million.

Lake Charles River remained the richest market. But its two riverboats, Golden Nugget and L’Auberge, and the city’s land-based Horseshoe, saw win sliding board 6% to $55.7 million. Gaming revenue inward the border urban center was almost $3.7 gazillion beneath Feb 2023.

At the tracks, Delta Downs grew one-armed bandit contain almost 3% to $14.1 million. LA Downs’ $4 billion win was 10% higher. Evangeline Downs and the Fairgrounds experient year-over-losses as they, respectively, won $6.1 million, push down 1.1%, and $3.5 million, down feather 7%.

Riverboats’ Murky Future

Louisiana’s legacy gaming industry, or retail slots and table games, was i of only when ogdoad states that experient a year-over-year commercial-grade gaming revenue wane in 2023. While traditional gaming localize revenue records inward 15 states, Louisiana, Indiana, Maryland, Mississippi, Michigan, Iowa, Mae West Virginia, and Florida saw in the flesh(p) toy dwindle.

Though the Bayou State’s 2023 retail gaming revenue losses of about 2% were covered past online sports betting, the state’s longtime riverboats are treading H2O inwards unsettled market currents.

Louisiana’s casinos inwards Lake Charles I and Shreveport/Bossier remain focussed on efforts in Lone-Star State to legitimatize commercial-grade cassino resorts. The push is existence led by billionaire Saint Mark Cuban, the Shark Tank star who lastly yr sold a controlling wager inward his longtime NBA Dallas Mavericks to casino tycoon Dr. Miriam Adelson.

Cuban and Adelson are said to be working on a mixed-use development inward Dallas that would include a young arena for the NBA team, accompanied by an structured resort hotel casino. For that to happen, TX lawmakers would need to legitimise Las Vegas-style gambling, something the GOP-controlled legislature has refused for decades.

Adelson’s Las Vegas Sands has spent millions of dollars lobbying TX lawmakers. Casinos inwards the Lone Star State would potential devastate casinos in Lake Jacques Alexandre Cesar Charles and Shreveport/Bossier, as the parking lots at those properties are perpetually filled with vehicles sporting Texas permit plates.

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