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Louisiana Gaming: Riverboats, Racinos, and Sportsbook Struggles

Explore how Louisiana's gaming industry saw significant revenue gains in riverboat casinos and racinos during February, despite the month's brevity. Discover insights into the challenges faced by the sports betting sector following the conclusion of the NFL season.
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Branimir Ivanov | Senior News Contributor

Updated: Mar 20, 2024

Louisiana Gaming: Riverboats, Racinos, and Sportsbook Struggles

In Louisiana's gaming scene, February brought a mix of triumphs and challenges across various sectors. Despite February being shorter than January, the state's gaming establishments managed to pull off significant revenue gains, particularly in the realm of riverboat casinos and racinos. However, the sports betting sector faced setbacks following the conclusion of the NFL season.

 

The Key Developments:

  1. Riverboat Casinos Thrive Despite Shorter Month: “February proved to be a lucrative month for Louisiana's riverboat casinos, collectively raking in $143.04 million in revenue. This marked an impressive increase of 17.55% from January's earnings…”
  2. Land-Based Gaming Sees Strong Performance at Harrah’s New Orleans: “Harrah’s New Orleans, Louisiana's sole land-based casino, emerged as a prominent player in February. The casino pulled in $23.81 million in revenue, marking a robust 27.33% month-on-month gain and a respectable 10.09% increase year-on-year.”
  3. Racinos Experience Significant Revenue Surge: “February was a fruitful period for Louisiana's racinos, comprising horse tracks and slot machines. Collectively, racinos recorded a revenue of $27.71 million, indicating a notable 22% increase over January's earnings…”

 

February proved to be a lucrative month for Louisiana's riverboat casinos, collectively raking in $143.04 million in revenue. This marked an impressive increase of 17.55% from January's earnings, demonstrating a robust performance overall. Notably, nearly all of the state's 14 riverboat casinos experienced gains during the month, showcasing a widespread positive trend in the sector. Among the standout performers were Bally's Shreveport, boasting a remarkable 42.97% increase in revenue compared to the previous month. Similarly, L'Auberge Lake Charles saw a significant dollar jump, with earnings soaring by $4.15 million over January. Such successes underscored the resilience and profitability of Louisiana's riverboat gaming sector, even amidst a shorter calendar month.

While riverboats enjoyed the spotlight, Harrah’s New Orleans, Louisiana's sole land-based casino, emerged as a prominent player in February. The casino pulled in $23.81 million in revenue, marking a robust 27.33% month-on-month gain and a respectable 10.09% increase year-on-year. These figures reflected both short-term momentum and sustained growth in the land-based gaming segment.

February was a fruitful period for Louisiana's racinos, comprising horse tracks and slot machines. Collectively, racinos recorded a revenue of $27.71 million, indicating a notable 22% increase over January's earnings. Delta Downs and Louisiana Downs stood out with significant monthly gains of 26.77% and 43.08%, respectively, emphasizing the sector's buoyancy.

 

“In February, Louisiana's riverboat casinos collectively raked in $143.04 million in revenue, marking an impressive increase of 17.55% from January's earnings.”

 

The Conclusions

In contrast to other gaming sectors, Louisiana's sports betting industry faced challenges in February. The end of the NFL season led to a substantial 31.98% revenue decline for online sportsbooks compared to January. This marked the second consecutive month of more than 30% decrease in sportsbook earnings, signaling a seasonal downturn following the peak of football excitement.

February showcased a dynamic and evolving gaming landscape in Louisiana. While riverboat casinos, land-based establishments, and racinos celebrated notable successes, the sports betting sector encountered seasonal headwinds. As stakeholders continue to navigate the intricacies of the industry, they'll need to remain adaptable and innovative to capitalize on opportunities for growth while mitigating challenges along the way.

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