Louisiana Casinos Up 7.6% To $212m In July

Louisiana Casinos Up 7.6% To $212m In JulyThe southern state of Louisiana has released its casino figures for July, revealing a 7.6% increase in revenue to $212.6 million compared to the same month in 2012.
Breaking the figures down further, in July Louisiana’s 19 riverboat casinos saw their revenues improve by $1.4 million to $135.6 million from July 2012’s figure, while Louisiana’s race track casinos took in $1.3 million less at $33.7 million, and The New Orleans land casino collected $25.4 million in revenue, up $1.3 million from a year earlier.
In terms of market share, the Shreveport area continued to dominate Louisiana’s gambling market, generating $66 million in revenue; followed by Lake Charles at $61.9 million; New Orleans at $48.7 million; Baton Rouge at $24 million; Morgan City at $4.2 million and Opelousas at $7.7 million.
Louisiana’s casino industry was legalized in the 1990’s and continues to show its resilience, even in face of formidable challenges facing the US economy. Last year, for instance, Louisiana’s casinos attracted 31.6 million visitors and took in $2.4 billion in revenue, a 1.3% improvement over 2011. In addition, $579.5 million in taxes was paid to the state, up 1.1% over 2011 figures, while $63 million in wages was paid to the 15,061 workers employed within the industry. As American Gaming Association CEO Frank J. Fahrenkopf Jr., commented at the time:
“After three years of increasing growth and positive signs in all sectors of the industry, it’s clear that we have weathered the recession.”
Meanwhile, the story has been much the opposite in the neighbouring state of Mississippi, whose casino industry has been in steady decline since 2007. During July, Mississippi’s casino revenue declined further by 6% to  $192.1 million, and its casinos are now collecting around 75% of what they collected back in 2007.
Highlighting the difficulties facing Louisiana’s neighbouring state, Mississippi Gaming Commission executive director Allen Godfrey, explained:
“People are more cautious with their money now..They just stopped coming. And we have to come up with the amenities to bring them back.”

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