Louisiana Casino Gambling Revenue Drops In January

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In some states, there was reason for hope in their casino gambling industry after strong January figures. Louisiana, however, was not one of these states. Revenue dropped at casinos in Louisiana for the first month of the new year.

Riverboat casinos in the state, thirteen in all, had revenue drop from $153.2 million in January of 2009, to $131.2 million this past month. Harrah's land casino in New Orleans dropped from $31.3 million to $27 million/

The figures are particularly surprising considering that last year in January, the US was in the middle of one of the worst recessions in the history of the country. This year, the economy has started to rebound, but casino gambling was down even more at Louisiana casinos.

Las Vegas and Atlantic City, two of the top gambling destinations in the US, continue to set the tone for the rest of the country. Nevada had a $6.8 billion revenue drop for the 2009 fiscal year, and New jersey casinos dropped 8.5% in January.

Competition is growing within the industry. More states have expanded their casino options, and some are even including table games. Pennsylvania lawmakers recently legalized table games, with Delaware and Florida lawmakers discussing the possibility.

For Louisiana casinos, it has been a steady run of bad luck in the past several years. First they had to recover from the devastating effects of Hurricane Katrina. Right at about the time they were recovered, the recession hit.

February 23, 2010
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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