Louisiana Casino Gambling Revenue Dips In November
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Add Louisiana to the growing list of states where there has been a decline in revenue in November. The Gulf Coast casinos experienced a drop of over sixteen percent from the same period in 2008.
On Tuesday, state police reported a decline of 16.7% in November. It represented a drop under the $200 million mark for revenue in the month. In November, revenue was $179 million, compared to $214.9 million in 2008.
The casino industry has been ravaged by the economy in the past year and a half. Revenue has slipped at all of the major casino gambling locations, including Las Vegas and Atlantic City. Louisiana has been trying to get their casino industry back on track since Hurricane Katrina.
"After Katrina, Louisiana casinos had an uphill climb to get back on top of their industry," said Gaming Analyst Brad Dawkins, "After they almost completely were back to running like they were before Katrina, the economy collapsed, so it hasn't been the best of times for the state."
All of the major casino gambling areas of Louisiana had decreased revenue in November. The riverboat casinos in the state had revenue down from $149 million, to $122.8 million. The track casinos revenue fell almost $7 million, to $28.3 million, and the downtown New Orleans casino fell from $30.9 million to $27.9 million.
It is not expected to get much better in 2010. Many industry insiders believe that 2010 will be similar to 2009, with relief coming in the two years that follow after that.
December 16, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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