The Louisiana Gaming Control Board reported that the casino business in the state saw an increase in revenue in May, $203.7 million, 10.5% more than in April. This increase can be largely attributed to the riverboat casinos and one land-based casino, which has also been accompanied by a growing consumer interest in racinos.
Riverboat gambling has been the most vibrant in Louisiana, with 14 casinos reporting a boosted revenue of $154.7 million, which improved by 11.8% compared to the previous month. Golden Nugget Lake Charles and Sam’s Town were at the top, with revenues growing by 19.7% and 17.9%, respectively. This growth signifies a potential revival of the tradition of gambling across the state through new technologies.
Growth was also observed in racinos, which are establishments that offer horse racing and slot machines. Four racinos in Louisiana revealed that their net earnings rose by 8.9% in April, reaching $29.1 million. Delta Downs accounted for almost half of this revenue, while Fair Grounds Race Course & Slots recorded the highest monthly revenue increase of 25.7%.
In May, Harrah’s New Orleans, the only land-based casino in Louisiana, reported a slight revenue increase. The revenue for this month reached $20M, which is $652,000m higher than the revenue in April. This places May’s figures in the average for the year to date, with the numbers for April and January slightly better than those for February and March.
Though the numbers seem promising, there are still things that are unclear about the implementations of online casinos in Louisiana. The legislators of the state have not done much towards the legalization of iGaming, which could be a source of huge revenue. PlayUSA’s study revealed that if online casinos were legalized in Louisiana, it would benefit the state by an additional $76.5 million. This expectation is based on other countries with developed online gambling industries and their yield per capita in this industry. For instance, Pennsylvania, which has a similar population size to Louisiana, generated over $212 million only from online casinos in April.
Louisiana’s current position aligns with a larger trend observed in the Southern and Southwestern states. Texas, Mississippi, Alabama, and other states subsequently refused to allow online casinos to operate legally. This limits their gambling industries to physical establishments like land-based casinos, riverboat casinos, and racinos. Compared, top US casino sites in states with legal online gambling have demonstrated significant revenue boosts.
The increasing revenue from casinos also reveals the growth that can be achieved on a large scale if online gambling is legalized. However, as other states begin to contemplate or improve their iGaming sector, Louisiana may risk losing out when it remains stagnant in its refusal to integrate this facet of the virtual market. The increase in the revenue on a monthly basis shows the evident interest and opportunities to regulate gambling, including, potentially, the online segment within the state of Louisiana.
