The three Baton Rouge casinos seem to be struggling to thrive and are facing a tough financial situation, far from their best years.
US.- The casino industry in Louisiana seems to be in trouble. Seven years after the L’Auberge Casino & Hotel opened, Baton Rouge casinos are struggling financially.
“They’ve been losing jobs and they’ve been losing revenue, really since about the fourth quarter of 2014,” said Loren Scott. He had predicted one of the other two venues would close after the opening of the L’Auberge. “Our market is strictly local and I just don’t see that it’s big enough to support all three.”
The Louisiana Gaming Control Board figures show the Belle’s admission was at 82,242 in 2012. However, in August, that number was 31,414. Revenue also dipped: in August 2012, it was US$6.05 million, almost tripling last month’s US$2.35 million.
Baton Rouge casinos are all at the same spot. The Hollywood venue had admissions of 89,773 in 2012, nearly 40k higher than August’s 53,317. Revenue dropped from US$9.3 to US$4.5 million.
L’Auberge raked more in revenue US$13.2 million than both the Belle and Hollywood combined US$6.89 million.
“They have been losing revenues because of the competition from the new and larger L’Auberge. And then, all three of them have been hit in the last year or so with the smoking ban,” Scott said.