Casino revenue in Louisiana drops 10 percent year to year

News

Leading casino advocates warn that Louisiana’s gaming industry is shrinking.

WWL reports Louisiana casinos have seen substantial declines in revenue in the last year.

Shreveport casinos are down 11.6 percent, Lake Charles 10 percent, New Orleans five percent, and Baton Rouge 13 percent.

Louisiana Gaming Control Board Chairman Ronnie Jones says it’s a tough time for the gaming industry in the state.

“It’s troubling because we think Louisiana may be losing it’s competitive edge, and this is an industry that employs a lot of people in the state and the state is reliant on gaming revenues to operate.”

Jones says gaming revenue now exceeds oil and gas revenue in funding the state.

Seven casinos saw 10 percent or more declines in revenue year to year, but the Belle of Baton Rouge posted the most shocking decline, at 43 percent. Jones says the owner is trying to get out…

“They have just not put any capital back into the property, they’re just trying to keep the property open and running and trying to keep it profitable so they can sell it, but they haven’t found a buyer yet.”

On a whole, Louisiana casino revenues fell 10.2 percent from last year.

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