Louisiana Casinos Rebounding Well From Recession
Louisiana casinos have been dealing with some of the worst luck in the gaming industry over the past five years. The casinos not only have had to deal with the 2008 economic recession, but the recession came at a time when the casinos in the state were just starting to recover from Hurricane Katrina.
The hurricane blew through New Orleans and left hundreds of millions of dollars in damage, not only to the casinos, but the entire state of Louisiana. Casinos were forced to close, some for several months, and the recession then added to the frustration for the gaming establishments and their owners. All of that now appears to be coming to a head.
In September, casinos brought in $196.6 million. That figure was over $10 million higher than the $186 million in September of 2010. It also brought hope that one of the worst economic periods in Gulf Coast gaming industry is coming to an end. The Louisiana Gaming Control Board released the details of the revenue increase on Thursday.
Race tracks were among the major winners in September, with slot revenue up to $31.7 million. It represented an increase of four percent from the same month the previous year. Riverboat casinos also had a strong September, rising five percent from last year. Revenue at the riverboat casinos totaled $134.1 million. That figure also was higher than the August revenue of $129.8 million.
Louisiana casinos are facing the same questions that Nevada and New Jersey casinos are up[ against in recent years. With expansion of the gaming industry coming to dozens of states since the recession, the former gaming capitals of the country are having to reestablish themselves amongst US gamblers. The Louisiana casinos have held several promotions in an attempt to gain back the business they lost to the recession.
Atlantic City and Las Vegas have officials scrambling as well to change with the times. While many states are only now starting to get into casino gambling, Nevada and New Jersey lawmakers have moved on to creating online gambling regulations. If the US changes its current laws, the two states would be in position to be the first into the world of regulated Internet gambling in the country.
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