For many years, Louisiana’s lawmakers have been working to expand the state’s gambling industry. The past few years have been particularly exciting for gambling fans in the state. New reports indicate Louisiana’s gambling industry ended last year on a high note.
December was a solid month for most of the country’s gambling destinations. Now is a great time to talk about how much revenue the gaming operators in Louisiana managed to bring in last month.
Let’s get into it!
December Was a Great Month for Louisiana’s Gambling Industry
Gambling companies around the United States thrived throughout 2021. Casinos experienced huge surges in tourism and revenue. Many states chose to launch their first sportsbooks and new monthly handle records were set on several different occasions.
Louisiana has been home to popular casinos for many years. Voters across most of the state’s parishes approved a measure to legalize sports betting in November of 2020. The first land-based sportsbooks went live in the state toward the end of 2021.
Coinciding with the launch of these sportsbooks, Louisiana’s gambling industry saw impressive revenue gains in December. The casinos in Baton Rouge managed to bring in $24.2 million in total gross gaming revenue. That represents an impressive 3% increase when compared to November and a 41% increase compared to December of 2020.
The entire state’s casino industry brought in $164.1 million in gross gaming revenue. The L’Auberge Baton Rouge proved to be one of the most successful casinos in the state, bringing in $17.8 million in December. Hollywood Baton Rouge managed to generate $5 billion in GGR.
Louisiana’s casino industry was not the only one to find major success. Sports betting is now legal and regulated here and is beginning to generate major revenue. Here’s a look at how much money the state’s sportsbooks brought in last month.
The Sportsbooks in Louisiana are Quickly Finding Success
As we mentioned earlier, Louisiana legalized sports betting back in late 2020. Lawmakers and regulators then needed more than a year to come up with rules to monitor this form of gambling. It was not until November of last year that the first land-based sportsbooks officially went live.
These sportsbooks are already proving to be very popular. Over the month of December, bettors in the state wagered more than $39 million. Sportsbooks managed to keep about $4.4 million and $438,000 went to the state via taxes.
11 sportsbooks are now up and running in the state of Louisiana. These are all located inside popular casinos, including the aforementioned L’Auberge Casino in Baton Rouge. Online sports betting is expected to launch in the next few weeks and will likely help to massively increase the amount of revenue being earned from this industry.
The initial hope was to have these online sportsbooks live in time for the first week of the NFL playoffs. That was not the case and the goal is now the launch them prior to the 2022 Super Bowl. Most analysts expect this to be the most-bet-on sporting event in history.
Louisiana’s sports betting industry is clearly growing very quickly. It is still falling short when compared to some others in the Southern US. Here’s a look at what other states are earning more money from their sportsbooks.
Mississippi Remains the Southern US Gambling Hub
Louisiana’s casinos have long been overshadowed by the ones operating in Mississippi. The Southern United States is known as a largely anti-gambling region of the country. Mississippi pushes against that idea and allows both casino gambling and sports betting.
Last December, the sportsbooks in Mississippi saw $56.8 million in bets placed. Some will be surprised to hear that all of these wagers were placed at retail sportsbooks. This state does not allow online sports gambling, despite the major push to do so.
Louisiana’s online sports betting launch may have an impact on lawmakers in Mississippi. If Louisiana begins generating a massive amount of revenue, calls to make online sportsbooks legal in Mississippi will intensify. It’s also likely that Mississippi residents will simply make a quick trip across the border into Louisiana to make bets on their favorite teams and players online.
There is no doubt that Mississippi remains the Southern US gambling hub. Statewide, the casinos here brought in $2.7 billion in gross gaming revenue. Coastal casinos contributed the most to that revenue figure with $1.6 billion in GGR.
Are you surprised to see how quickly Louisiana’s gambling industry is growing? Will the sportsbooks in Louisiana soon begin generating more revenue than the ones in Mississippi? Let us know in the comments section below.