Casino Revenue Drops in New Orleans
Overall gambling revenues in Louisiana experienced a drop in the month of April compared to the same period in 2017. New Orleans reported the worst performance with a 17.4% drop in year-to-year earnings.
The state’s 4 racinos, 15 riverboat casinos, and the land-based Harrah’s Casino reported overall earnings of $211.2 million for the month of April, according to reports from the Louisiana Gaming Control Board. This is 8.1% less than the revenue generated last year ($229.7 million) for the same period.
However, the revenue from video poker showed an increase of around 4.1%, bringing the figure to $51.1 million. In 2017, the figure for the same period was $49.1 million.
Harrah’s to Blame
A chunk of the drop has been attributed to Harrah’s dismal performance. The casino reported $24.0 million in earnings for the month of April, 31.7% lower than the earnings for the same month in 2017. However, the Fair Grounds racetrack managed to rake in $3.6 million, which is a 7.2% increase compared to 2017’s earnings.
The three riverboats in Crescent City enjoyed a modest boost in winnings; around 0.4% to be specific, which brought the figure to $23.6 million. The biggest earner was The Amelia Belle, which brought in $3.8 million; a 3.3% increase. This was followed by Treasure Chest, which brought in around $9.6 million; an increase of 1.8% compared to previous year’s performance. Boomtown reported an identical increase in revenue, which brought the figure to $10.2 million.
As for the three riverboat casinos in Baton Rouge, the overall revenue dropped by 12.1% compared to last year. The market’s largest casino, L’Auberge Baton Rouge, experienced the worst drop in revenue; a 14.9% reduction which saw the figure come down to $13 million. The Belle of Baton Rouge followed next with a drop of 8.9%, which brought the figure down to $4.7 million. Lastly, the Hollywood Casino Baton Rouge came in third with a 7.6% drop in revenue, which brought the figure down to $5.4 million.
As for other markets, the Acadiana and the Evangeline Downs race track were the only ones to report an increase in revenue. Together, they enjoyed a marginal boost of 0.6%, bringing in around $7.3 million.
The three riverboats and the Delta Downs racetrack in Lake Charles saw their revenue drop by 1.8%, which brought earnings down to $75.4 million.
The riverboats in Shreveport-Bossier City, along with the Louisiana Downs track, reported a 5.5% drop in earnings, bringing the total figure down to $54.2 million.