Louisiana Casino Revenues Rise 10.9% to $215.7m in OctoberNovember 20, 2015 1:14 pm
The Louisiana State Police has released its casino financial figures for October, with the results showing a 10.9% increase in revenues to $215.7 million, compared to the $194.6 million that was collected in the same month in 20014. While impressive, much of the year-on-year gains can be attributed to the opening of the Golden Nugget Lake Charles in December, 2014, which subsequently generated an extra $20.2 million in revenues for the state last month.
The Louisiana casino market has fifteen riverboat casinos, one land-based casino, and four racetrack slots venues located throughout its five gambling regions of Baton Rouge, New Orleans, Shreveport-Bossier, Lake Charles, and Opelousas.
Leading the market in October was Lake Charles with $72.5 million in revenues, 31% higher than the same month last year, although the region contained the aforementioned Golden Nugget Hotel & Casino. Next highest was Shreveport-Bossier City with 2.9% more revenues at $59.8 million, year-on-year, and then New Orleans which generated $52.2 million in October, 0.3% less than October 2014. The slight contraction in New Orleans revenues was mostly attributed to the smoking ban that was introduced earlier this year, and as Harrah’s casino spokeswoman Jade Brown Russell, explains:
“We are currently experiencing greater declines from our local business, while casinos in surrounding jurisdictions are enjoying record highs. You do have to stop the game [to go outside and smoke]. And once you’re playing, you don’t want to leave. You don’t go back to the same spot, usually, and that’s the problem.”
Finally, in October Baton Rouge’s casino market reported an impressive 13% increase in revenues to $24.6 million, compared to the $21.7 million collected last October, while Louisiana’s smallest market Opelousas generated $6.7 million, lower by 5.1% year-over-year.