Louisiana Casinos Continue Strong Revenue Showing In July
Louisiana casinos have been through some tough times over the past six years. First, there was Hurricane Katrina that closed down casinos, and then the economic recession of 2008 sent the gaming facilities back into a revenue funk.
In July, Louisiana casinos took another step towards coming out of the cloud they had been under in recent years. Revenue at the eighteen state-licensed casinos was $224.3 million. That represented an increase of 2.2% over the $219.4 million the casinos won in July of 2010.
The revenue figures also displayed an increase from June to July this year. In June, revenue was $197.2 million. The summer months have been a welcomed relief for casino executives that had started to wonder whether or not the revenue would ever fully rebound to pre-recession figures.
"I felt like there has been a bigger buzz in the casinos over the past couple of months," said Mark Granger, who frequents several Louisiana casinos a week. "People seem to have a little extra money these days, and that is leading to more people going back to the casinos. One casino I was at last week was filled to the max, it was fun to see."
Riverboat casinos make up a large portion of the gaming revenue in Louisiana. The thirteen riverboat casinos took in $159 million in July. The four racetrack casinos that are licensed in the state brought in $37.9 million, and Harrah's in New Orleans, a land-based casino, won $27.4 million. L'Auberge Du Lac was the top revenue-producing casinos in July, winning $35.8 million.
The state may soon be getting a boost in gaming revenue after the Louisiana Gaming Control Board approved a plan Thursday for a new Margaritaville casino resort in Bossier City. If everything goes according to plan, the new $181 million facility could be opened in the next couple of years, further entrenching Louisiana as one of the top gaming destinations in the US.
Louisiana, Nevada, Mississippi, and New Jersey have long been considered the top gaming markets in the country, but recent competition has muddied the casino waters. Pennsylvania, Florida, California, and even Iowa have now become major gaming destinations for gamblers.
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