Louisiana casino revenue down 9.7% year-on-year in June

June’s figures were down 4.2 per cent compared to the previous month.
June’s figures were down 4.2 per cent compared to the previous month.

Louisiana’s casinos and racinos saw a year-on-year and month-to-month drop in revenue to $265m.

US.-  The Louisiana Gaming Control Board has released its monthly revenue report for Louisiana’s 13 riverboat casinos, four racinos and Harrah’s land-based casino. The report shows a decline in revenue of 9.7 per cent year-on-year to $265m, compared to $294.9m in June 2021.

June’s figures were also 4.2 per cent down compared to the previous month, when gaming venues reported $276.7m. Harrah’s New Orleans Casino was the only venue to see a rise in revenue. The land-based facility reported $21m in revenue for June, a 1.2 per cent rise from the previous month’s $20.7m.

Racinos reported the largest drop month-on-month, with a 8.3 per cent decline, from $29.58m in May to $27.1m in June. Video game terminals (VGTs) took in $64.9m in June, down 6.5 per cent from May’s $69.4m. Louisiana’s 13 riverboat casinos combined for nearly $152m, a 3.2 per cent decline from $157m in the previous month.

For the 2021-22 fiscal year ended June 30, riverboat casinos combined for $1.8bn in revenue, a 12 per cent increase over the $1.62bn recorded in the 2020-21 fiscal year. The Harrah’s New Orleans Casino saw a 7 per cent rise, from $213.2m to $228.3m and racino revenue rose 3 per cent, from $321.5m to almost $330m.

Sports betting decline

Louisiana’s sports betting handle was $132.4m in June, according to the Louisiana Gaming Control Board. That makes June the fifth month in a row to see a decline. The figure was down 22.6 per cent from the $171.1m wagered in May. The seven online sportsbooks in Louisiana took $113.9m in bets, while retail sportsbooks were responsible for $18.5m.

Louisiana sportsbooks took $10.8m in gross revenue: mobile operators $10.5m and retail sportsbooks $149,244. The win rate for retail sports betting operators in the state was just 0.8 per cent in June. 

The state collected $1.4m in taxes, down from $2.7m in May. Since the October 31 retail sports betting launch, Louisiana has generated $14m in sports betting taxes.

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