Louisiana Casino Revenues Flat at $223M in FebruaryMarch 16, 2016 1:05 pm
The state of Louisiana has released its casino results for February, revealing a slight 0.4% drop in revenues to $223.3 million compared to the $224.1 million that was generated in the same month a year earlier.
The Louisiana casino market consists of 15 riverboats, four racinos and one land-based casino spread out across five regions. In February, the biggest gaming market in the Pelican State, Lake Charles, was also the only one to report an increase in year-on-year revenues, with its 3 riverboats and the Delta Downs racetrack collecting 5.9% more revenues at $73.9 million, compared to February 2015.
On the other side of the coin, shrinking gambling revenues were reported across New Orleans, Baton Rouge, Shreveport-Bossier City, and Opelousas.
In New Orleans, Harrah’s land-based casino, the Fair Grounds, and 3 riverboats generated 4% less revenues at $53.1 million, compared to the $55.3 million taken a year earlier. Reporting the most dramatic decline of all the operations was the Fair Grounds, with revenues down by 9.5% to $4.2 million. Meanwhile, Harrah’s noted a 2.9% fall in revenues to $25.6 million, with the venue continuing to blame a New Orleans smoking ban for its troubles.
Elsewhere, Baton Rouge with 3 riverboats collected $25.8 million during February, lower by 5.8% from the $27.4 million taken in the same month in 2015. Likewise, the Opelousas market, consisting of Evangeline Downs racino, was also lower by 8.9% to $7.4 million; while Shreveport-Bossier City reported 0.6% less revenues at $63 million from its 6 riverboat casinos and Harrah’s racino.
Finally, last weekend Harrah’s Louisiana Downs in Bossier City was forced to shut its operation due to concerns over potential flooding. The racino is expected to reopen in the next few days, however, after the flood warnings were downgraded. As Senior VP Mike Rich explains:
“We plan on opening operations Monday afternoon at 2pm. We welcome back our Harrah’s Louisiana Downs guests to come out and play.”