Louisiana Casino Market Down Due To Pandemic

In the South American state of Louisiana, the 15 casinos and four racinos reportedly recorded aggregated gross gaming revenues for June that were down 19.5 percent on the same month last year at just $164.4 million.

According to a Thursday article from The Times-Picayune newspaper citing official statistics from the Louisiana Gaming Control Board, the outcome for the 30-day duration comes after the facilities were officially allowed to re-open from May 18 after a nearly nine-week coronavirus-related shuttering while they remain subject to 50 percent capacity restrictions.

The Times-Picayune estimated that the five gambling-friendly facilities in New Orleans posted a 43 percent comparable decline in June combined $25.6 million in gross gaming revenues with Caesars Entertainment Corporation ‘s famous Harrah’s New Orleans property reporting a huge 75 percent reduction to just $5.6 million. Moreover, the newspaper reported that the trio of riverboat casinos in the Louisiana city at Treasure Chest Casino, Boomtown New Orleans and Amelia Belle Casino chalked up to around $18.1 million a less dramatic 20.4 percent cumulative decrease, while the $1.9 million taken in by the nearby Fair Grounds Race Course and Slots Racino was equivalent to a 48.7 percent year-on-year decrease.

Louisiana is generally considered to be the fifth most lucrative casino market in the United States behind only Nevada, Pennsylvania , New Jersey and New York following the recent thinning of its ranks when DiamondJacks Casino Hotel in Bossier City announced that it would not recover from its own coronavirus-induced shutdown. The Times-Picayune reported this move effectively put 349 people out of jobs, with around 4,100 casino employees laid off nationwide since the pandemic started.

The three riverboat casinos of ‘ The Pelican State ‘and Baton Rouge reportedly saw their own collective gross gaming revenue decline by 4.5 percent year-on-year to $18.3 million, while the market around Opelousas, represented by Boyd Gaming Corporation’s Evangeline Downs racino, recorded a comparable 17.4 percent decline to $5.8 million.

Continuing the bad news and the newspaper announced that the Lake Charles casino market suffered a 7.2 percent year-on-year decline in June ‘s gross gaming revenue to $70 million, while the area around the city of Shreveport, which included the now-disappeared DiamondJacks Casino Hotel, was down 16.8 percent to $44.6 million.