Louisiana reports drop in profits in September
Tuesday 29 de October 2024 / 12:00
2 minutos de lectura
(Louisiana).-According to Louisiana Gaming Control Board data, revenue fell 11.8% from $192.7 million in August to $169.9 million this past month.
After posting more than $190 million in revenue twice this summer, Louisiana casino revenue chilled in September.
According to Louisiana Gaming Control Board data, revenue fell 11.8% from $192.7 million in August to $169.9 million this past month. The decline is consistent with national trends, as revenue figures fell in casino markets nationwide.
The state’s casino win data does not include online casinos because iGaming is illegal in Louisiana.
Key takeaways
- Online casinos could be legal by the summer of next year.
- Louisiana land-based, riverboat, and racino revenue fell 11.8% in September.
- Only two casinos posted positive revenue this past month.
Louisiana iGaming could arrive in 2025
While online casinos aren’t legal in the Bayou State right now, that could change in 2025.
Two committees in the state senate have joined to study the impact of legal online casinos in Louisiana. The study will specifically analyze Louisiana online casino regulations and revenue and any potential positive and negative effects.
According to SR 149 by Senator Talbot, the committee must submit its findings by March 1 of next year. If lawmakers are happy with the study’s results, online casinos could be legalized by next summer. Legalization couldn’t come a minute too soon, either.
According to PlayUSA’s projections, Louisiana online casinos could’ve generated more than $78 million in August, the most recent month in which all seven states with online casinos reported revenue:
| State | August online casino revenue | Population | Per-capita revenue |
|---|---|---|---|
| Pennsylvania | $225 million | 13 million | $17.31 |
| New Jersey | $198.4 million | 9.3 million | $21.33 |
| Michigan | $196.7 million | 10 million | $19.67 |
| Connecticut | $44.6 million | 3.6 million | $12.39 |
| West Virginia | $20.4 million | 1.8 million | $11.33 |
| Delaware | $5.8 million | 1 million | $5.80 |
| Rhode Island | $3 million | 1.1 million | $2.73 |
| Average | $99.1 million | 5.7 million | $17.42 |
| Louisiana (projected) | $78.4 million | 4.5 million | $17.42 |
Two Louisiana casinos post positive growth amid down month
Louisiana is home to three kinds of gaming: riverboats, racinos (slots at horse tracks) and one land-based traditional casino. Across that trio, only two casinos saw revenue numbers rise in September.
Compared to Louisiana’s August 2024 gaming revenue, Horseshoe Lake Charles’ (riverboat) revenue rose 21.5% month-on-month, while Racino Lousiana Downs’ revenue ticked up 0.2%.
Louisiana riverboat revenue in September
Revenue from riverboats fell 12% in September, dropping from $147.3 million in August to $129.6 million this past month:
| September 2024 | August 2024 | % Change (Monthly) | |
|---|---|---|---|
| Delta Downs | $12,567,024 | $14,001,850 | -10.2% |
| Louisiana Downs | $3,198,574 | $3,190,917 | 0.2% |
| Evangeline Downs | $5,674,120 | $6,206,844 | -8.6% |
| Fair Grounds | $2,702,002 | $3,106,178 | -13.0% |
| Total | $24,141,721 | $26,505,789 | -8.9% |
Louisiana’s racino and land-based revenues see nearly 9% drop
Like their riverboat cousins, Louisiana’s racinos and land-based casino felt the September sting. Racino revenue tumbled -8.9% on double-digit losses from Delta Downs and Fair Grounds:
September 2024 | August 2024 | % Change (Monthly) |
|---|---|---|
| Delta Downs | $12,567,024 | $14,001,850 |
| Louisiana Downs | $3,198,574 | $3,190,917 |
| Evangeline Downs | $5,674,120 | $6,206,844 |
| Fair Grounds | $2,702,002 | $3,106,178 |
| Total | $24,141,721 | $26,505,789 |
The state’s only land-based casino, Harrah’s New Orleans, saw its revenue drop from -8.9% from $26.5 million to $24.1 million.
Categoría:Reports
Tags: Sin tags
País: United States
Región: North America
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