Monday, June 17, 2024

Data shows Louisiana casino gaming revenues still lag behind pre-COVID numbers

by BIZ Magazine

Louisiana casino gaming revenues in the last half of 2022 continued to lag behind pre-pandemic numbers, with revenues down more than $43 million and remitted fees down $5 million.

Total revenues for land and riverboat casinos from July through December 2022 was $992 million, generating $216 million in remitted fees to the state. During the same time frame in 2019, the casinos took in $1.04 billion, with $222 million in fees remitted.

The difference is a decline of $43 million in revenue, and $5.13 million less in remitted fees, compared to the pre-pandemic figures, according to data from the Louisiana Gaming Control Board.

Most riverboat casinos were also down in December, compared to the same month the year prior. The biggest drops came from New Orleans riverboats, which were down 23.4% in December 2022 versus December 2021. Baton Rouge riverboats were down 9.1%.

Shreveport/Bossier riverboat revenues were down 6.2%. 

Lake Charles was the only region where riverboats overall posted higher revenues in December 2022 than December 2021, up 16.1%.

Overall, riverboat casino revenues were down 0.9% in December compared to December 2021. Riverboats collected a total of $858 million in revenues and remitted $184 million in fees from July through December 2022, which was down 2% from the same time frame in 2021, and down 4% from the same months in 2019.

By Victor Skinner, The Center Square contributor

-
00:00
00:00
Update Required Flash plugin
-
00:00
00:00