Louisiana sports betting handle reaches $308.6m in October

Gross revenue was $43.3m in October.
Gross revenue was $43.3m in October.

Figures surpassed the previous record of $282.3m.

US.- Louisiana’s sports betting handle was $308.6m in October, up 20.8 per cent from October 2022 and up 10.2 per cent from September 2023. The handle beat the previous record of $282.2m set in January 2023. Of the total bets, $276.2m was spent betting on sports online while $32.4m was bet at retail sportsbooks in Louisiana.

Gross revenue was a record $43.3m, up 63.5 per cent year-on-year. Online gross revenue amounted to $40.1m, with retail’s share at $3.3m. Adjusted revenue, which discounts promotional betting, market revenue was $42.5m.

Football betting generated $7.3m in online revenue and $249,242 retail. Baseball accounted for $3.3m and $437,224 in retail. The handle in Louisiana for the four months to the end of October was $877.4m: $786.4m in online bets and $91m in retail wagers. Adjusted revenue for the period reached $118.9m, with $106m online and $12.6m retail.

See also: Louisiana’s Queen Baton Rouge casino is now open

The Cordish Companies receives approval for Louisiana casino project

The Louisiana Gaming Control Board has unanimously granted LRGC Gaming Investors, an affiliate of The Cordish Companies, regulatory approval to become a gaming operator in the state. The approval clears the way for Cordish to complete its acquisition of Diamond Jacks Casino & Hotel in Bossier City and begin its transformation into a Live! casino resort.

The project will include the construction of the first land-based casino in the Shreveport-Bossier market replacing the existing riverboat. Live! Casino & Hotel Louisiana is scheduled to open in 2025.

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