Louisiana casino revenues post drop in April
Winnings at Louisiana’s state-regulated casinos were down 7.4% in April, as every market but New Orleans saw a drop in revenue.
The 13 riverboat casinos, four racinos and Harrah’s land-based casino brought in $218.8 million, compared to $236.2 million in April 2021, according to figures released earlier this week by the Louisiana Gaming Control Board.
The only properties to post a year-to-year gain were Harrah's and Treasure Chest in Kenner.
Wade Duty, executive director of the Louisiana Casino Association, blamed the drop in business to high gas prices and skyrocketing rising inflation. The average price for a gallon of regular unleaded is now over $4 a gallon in every state and that's having an impact on gambling markets that rely heavily on tourists who drive in, such as Shreveport-Bossier City.
“Overall, inflation is eating into people’s discretionary income,” Duty said. “With the costs of regularly incurring expenses going up, that’s putting external pressure on people.”
Nearly $208.3 million was bet on sports, through mobile apps and casino sportsbooks. That's down from the $232.7 million wagered in March, a month that features the March Madness college basketball tournament. The three week tournament generates more legal bets than the Super Bowl.
The money wagered online and in retail sportsbooks generated $5.6 million in revenue in April.