Louisiana Casino Revenues "Healthy" In June

The latest report released by the Louisiana Gaming Control Board reveals casino revenues were fairly flat in June, with the state’s 21 casinos generating $203.5 million last month, up by 0.5% compared to the $202.4 million taken in June 2013.
In June, Louisiana’s 14 riverboat casinos saw business practically unchanged from a year ago with revenues hitting $142.4 million, while the state’s only land-based casino, Harrah’s in New Orleans, reported a 10.3% uptick in revenues to $29.9 million. The Pelican State’s four racinos generated the remaining revenue.
Louisiana has offered legalized casinos since 1993, and over the past few years has shown great resilience at a time when other gambling markets have been contracting. Last year, for instance, gambling tax revenues collected by the state rose by 1.4% to $587.5 million from $579.5 million in 2012.
In addition to tax collections, Louisiana’s casino industry is a major employer in the state and this week the American Gaming Association (AGA) released a report showing 15,061 people were now  employed in the industry, a figure 4.3% higher than the previous year, ranking Louisiana’s casinos the fourth biggest employer in the industry nationwide, behind Nevada, New Jersey and Mississippi.
Overall, the situation paints a positive picture of the Louisiana gambling market, and commenting on June’s results Wade Duty, executive director of the Louisiana Casino Association, said:
“The properties operating now are solid,. They’re all healthy and paying their own way.”
The same cannot be said for neighboring Mississippi, however, which may also have returned flat growth in June at $174 million, but has seen its casino industry fall 25% off its 2007 peak of $2.9 billion, with revenues lower in 21 of the last 24 months. While Mississippi’s 12 coastal casinos experienced an impressive 13% increase in revenues to $95.7 million, the state’s 18 river casinos witnessed a 12% drop off in business to $78.7 million. Unlike Louisiana,  The Magnolia State has also seen some of its casinos shut shop this year, putting thousands of  people out of work.