Louisiana Gaming Control Board has published the financial results of January. While the state’s casinos—comprising 15 riverboat casinos, four racinos and land-based casino—posted a revenue increase of 0.1 per cent, casino winnings in the Baton Rouge market slided by 15.1 per cent. The state’s overall winnings for January is $187.7. That is 0.1 per cent higher than $186.8 million posted in January 2018.
Video poker revenue increased by 11 per cent during that same period to $49.2 million from $44.3 million.
Baton Rouge posted huge losses. Revenue from its three riverboats plunged to $17.4 million from $20.5 million to in the past year. The Belle of Baton Rouge, the oldest riverboat in the city, dropped 38.8 per cent to $2.4 million. L’Auberge Baton Rouge was down 12.7 per cent to $10.6 million. Hollywood Casino revenue fell by a modest 0.6 per cent to $4.4 million.
Economist Jim Richardson remarked that Baton Rouge’s riverboat casinos are not pulling in people from other markets. At the same time, they face competition from Mississippi Gulf Coast casinos, several of which now offer sports betting. “There are alternative places people can go to,” he said.
Casino winnings in the New Orleans gambling market were up 7.7 per cent in January to $47.5 million from $44.1 million, thanks to an improved performance in all parts of the market. Harrah’s posted $22.8 million in winnings during January, 11.5 per cent more than the $20.4 million a year earlier.
The Crescent City’s three riverboats had a 4.4 per cent gain in revenue to $21 million from $20.2 million. Boomtown New Orleans had the biggest gain, going from nearly $8.8 million in winnings to almost $9.4 million. The Amelia Belle in Amelia went from $3.2 million to $3.4 million, a 4.8 per cent increase. Treasure Chest had a 1.8 per cent gain to $8.3 million from $8.1 million.