The Louisiana Gaming Control Board has released the May casino revenue totals, and it’s clear that there was plenty of action at the properties in the state. The casino revenue in Louisiana was up to $203.7 million for the month of May, and that represented a 10.5% increase over the April numbers.
There are three different types of casino properties in the state of Louisiana, and all three of those types enjoyed some growth. There is one land-based casino in the state, several riverboat casinos, and racinos are also open for business.
Much of the betting action continues to come at the riverboat casinos in the state, but other properties are getting more business as well. This state continues to miss out on revenue from iGaming, but the local properties continue to benefit.
There are 14 riverboat casinos in the state of Louisiana, and those properties combined to see revenue increase $16 million from April. That is a jump of nearly 12%, and that is what helped to drive the overall numbers in the state.
The four racinos in Louisiana saw their revenue increase 8.9% from April, but the total revenue was just $29.1 million. Harrah’s New Orleans is the lone land-based property, and it posted a total revenue of right around $20 million.
Tight Race at the Top
It’s not easy to declare the most popular riverboat casino in the state, as there are two properties that tend to battle it out each month. That was the case again in May, but it was the Golden Nugget Lake Charles that led the way with a revenue of nearly $30 million.
Golden Nugget also saw the biggest jump from the April numbers as total revenue climbed by nearly 20%. L’Auberge Lake Charles came in second with $27.2 million in revenue, and it also saw the revenue increase by 14.7%.
There is a pretty significant dropoff after these two properties each month, but others still saw some big gains. The Margaritaville Resort Casino had a total revenue of more than $17 million, and it also saw some big gains.
This trend should continue throughout the next few months as the summer is when the riverboat casinos tend to see the most action overall.
Missing Out on Money
Lawmakers in many states are trying to weigh the pros and cons of iGaming, but that’s not necessarily the case in Louisiana. While iGaming looks to be imminent in many states, that’s just not something that is on the table in this state.
It’s hard to predict just how well iGaming would go over in the state, but projections suggest that this state is missing out on significant revenue. Based on the total population of the state, experts agree that Louisiana could post monthly revenues of $70 million or more.
Louisiana does have online sports betting, but it has one of the most unique markets in the state. Online sports betting is only legal in some of the parishes, while other parishes voted down the proposal.
