Revenue rises at most La. casinos

|
News,Business

NEW ORLEANS (AP) — Sixteen of 18 state-regulated casinos won more money in May than in April. But four riverboats and a racetrack in west Louisiana won less than in the previous May.

Gamblers' odds were best at the Eldorado in Shreveport, where average losses per visit were $54.84. They were worst at the Horseshoe, which raked in an average of $144.04 on each gambler's visit.

Overall, gamblers lost $214.2 million — $17.8 million more than in April and $10 million more than May 2012, according to figures released Thursday by the Louisiana Gaming Control Board.

The only figures that matter are the one-year comparisons — and Louisiana and other casino states are all about roughly even with last year's totals, said Ken Adams, a gambling analyst with CDC Consulting and a partner in Johnny Nolon's Casino in Cripple Creek, Colo.

"May last year and May this year appear to be pretty comparable and the economy seems stable," he said. "Some states are up a little, some down a little."

The total included $149.1 million at riverboats, $29.8 million at Harrah's land casino in New Orleans and $35.3 million at racetrack slot machines. L'Auberge Lake Charles, at $29.5 million, and the Horseshoe, at $19.9 million, led the riverboats, while the Delta Downs track casino won $17.1 million, more than double the $8.2 million take at competitor Evangeline Downs.

The only casinos with one-month losses were L'Auberge Lake Charles, where revenue fell 2.7 percent from April, and the Hollywood in Baton Rouge, down 2.2 percent from $7 million in April to just under $6.9 million in May.

Because L'Auberge of Baton Rouge has had about half the market since it opened in September, Hollywood's take was 32.6 percent lower than a year earlier and the Belle of Baton Rouge saw a 20.5 percent drop to $5.3 million. L'Auberge won $13.8 million.

L'Auberge Lake Charles also had the largest percentage drop over the year — 8.1 percent, from $32.1 million in May 2012. The smallest percentage losses were at the Louisiana Downs slots casino in Shreveport, down 1.2 percent over the year, and the Isle of Capri in Lake Charles, down 1.4 percent. Other one-year drops were 3.8 percent to $19.9 million at the Horseshoe and 5 percent at Sam's Town, to $8.7 million.

The Shreveport-Bossier market took in $61.9 million, Lake Charles $58.7 million, New Orleans $54.5 million and Baton Rouge $26 million. Morgan City's Amelia Belle riverboat won just under $5 million, and the track casino at Evangeline Downs in Opelousas took $8.2 million from gamblers.

___

Online: http://lgcb.dps.louisiana.gov/revenue_reports.html

View article comments Leave a comment