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.