The state\u2019s four racetracks, which offer slots, saw marginal revenue increases at three venues. Delta Downs reported adjusted gross revenues of $184.2 million, just .2 percent better than last year. Evangeline Downs reported a 1.2 percent increase to $83.1 million, and Fair Grounds Race Course\u2019s slots revenue jumped 2.8 percent to $43.7 million. Harrah’s Louisiana Downs was the only decliner among tracks, with its $44.1 million down just $200,000 – or .5 percent – from 2018.<\/p>\n
In April, the Louisiana Department of Economic Development received a report from Spectrum Gaming Group that analyzed all forms of gambling currently available legally in the state. Since 2008, casino gaming has seen revenues declined by 1.5 percent.<\/p>\n
One of the main reasons for the decline has been the increased competition in nearby states. The casinos in the Bossier City and Shreveport areas have been hurt by Oklahoma\u2019s tribal casinos, which are closer to the Dallas-Fort Worth metropolitan area.<\/p>\n
Mississippi casinos continue to siphon Louisiana gamblers,\u201d <\/span><\/strong>the report stated.<\/span> \u201cThe Mississippi Gaming Commission estimates that in 2018 there were 3.3 million visits by Louisiana residents to the Gulf Coast casinos and 500,000 to the state\u2019s Central Region casinos.\u201d<\/span><\/strong><\/p><\/blockquote>\nMississippi\u2019s casino tax rate is much lower, 11.6 percent, compared to Louisiana\u2019s 26 percent. In addition, Mississippi does not tax free plays. The Spectrum study said the tax discrepancies mean companies owning casinos in both Louisiana and Mississippi are better off investing and marketing their Mississippi venues to Louisiana patrons.<\/p>\n
\u201cAfter all, the same player with the same gaming budget is simply worth more to the casino operator in Mississippi,\u201d it stated.<\/p>\n
Last year, the state legislature approved a bill allowing riverboat casinos to move inland<\/a>. Spectrum anticipates two venues doing just that by 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"June was not a lucky month for Louisiana\u2019s riverboat casinos. Data from the Louisiana Gaming Control Board showed that of the state\u2019s 15 boats, only one of them saw an increase in revenue last month compared to June 2018. That winner was the Margaritaville Casino Resort in Bossier City. It\u2019s $13.9 million in revenue last […]<\/p>\n","protected":false},"author":45,"featured_media":109697,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,18],"tags":[],"acf":[],"yoast_head":"\n
Louisiana Riverboats Endure June Swoon, Only One Sees Revenues Rise<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n