Louisiana is known for having one of the largest and most successful casino industries in the Southern United States. Unfortunately, all of the state’s gambling venues have been badly affected by the events that have been unfolding over the past eight months. Today, we’re going to look at Louisiana’s casino revenue for September.
Things appear to be getting better here. The casinos operating in this state still have a long way to go before they reach pre-pandemic levels, though.
Here’s how much the casinos here managed to bring in last month.
Hurricanes Continue to Affect the Casinos in Louisiana
The state of Louisiana has a casino industry that dates back decades. The majority of gambling venues here are riverboat casinos located in the coastal regions. There are also several popular Native American casinos and “racinos” offering both racing odds and select casino games.
All of these casinos have been hurting this year. For a time, they were forced to remain closed due to health concerns. They began reopening over summer, yet hurricanes have continued to force additional closures.
Back in August, Hurricane Laura struck the Lake Charles area of Louisiana. This part of the state is known for having a huge number of popular casinos. Unfortunately, this hurricane caused the roof of the Golden Nugget Lake Charles to blow off.
Just last week, Hurricane Delta struck the area once again. The casinos were all forced to close down and many are reporting damage. These storms are making an already-difficult year even tougher for the casinos here.
Casino revenue earnings have been fluctuating for months. Some of the major gambling venues here seem to be performing better than others. Today, we’re going to talk about how much the casinos around the state managed to bring in this September.
Some are surprised to see how much money these casinos brought in.
Breaking Down Louisiana’s Casino Revenue for September
Prior to 2020, Louisiana was seeing its gambling revenue increase rapidly. Several new gambling venues have opened here over the past few years. Each time a revenue report comes out in 2020, it becomes clear that this industry still has a long way to go to recover.
New reports from the Louisiana Gaming Control Board show that all of the state’s gambling properties managed to bring in $126 million over the month of September. That’s a drop of 31.3% when compared to the same month in 2019.
The riverboat casinos here managed to bring in the most money. Incredibly, the three riverboat casinos based in Baton Rouge actually saw a 4.6% revenue increase when compared to September of 2019. Lake Charles saw a major dip.
Partly due to the aforementioned hurricanes, Lake Charles saw its casino revenue drop by 64.9% year-on-year. The casinos here managed to bring in just $21.8 million. It’s important to note that some of the casinos here were closed for the entire month.
Video poker is surging here, bringing in $54.5 million. Much of this was earned from the Baton Rouge casinos, which saw $18.8 million in September. The casino industry in New Orleans saw a drop in revenue of 31.2%.
It’s going to take months, if not years for Louisiana’s casino revenue to return to normal. We’ll continue offering monthly updates as they come out. Stay tuned!
2020 Could be the Year Louisiana Finally Legalizes Sports Betting
Lawmakers around the United States have been taking a much closer look at the gambling industry lately. At a time when money is desperately needed, casino and sports betting regulations are beginning to change. 24 states have now passed bills to legalize and regulate sports gambling.
Louisiana will now send the issue of sports betting to the polls in November. Residents here will have the opportunity to decide whether or not they want to allow regulated sports betting platforms in the state. Most predict it will be approved by a wide margin.
This should help to bring the state a massive amount of money each year. States like New Jersey are earning millions each month from the industry. Not long ago, sportsbooks in NJ saw a record handle of $748 million.
It’s an exciting time for sports fans in Louisiana. Richard Carbo, one of the men leading the push for legalized sports betting, spoke about the benefits to the media recently.
“We’re losing out on more than $330 million in taxable revenue while states next door like Arkansas and Mississippi use sports wagering revenues for education and infrastructure,” Carbo said. “That revenue could be used to fund roads and bridges or help fill gaps in education funding here in Louisiana.”
Sports betting may even help to boost Louisiana’s casino revenue in the long-run. Do you think this form of gambling gets approved this year? Let us know in the comments section below!