Louisiana’s Gaming Market Loses Upward Momentum Closing Out 2023

    Revenue 1
    Article by : Erik Gibbs Jan 24, 2024

    In December 2023, the Louisiana Gaming Control Board disclosed gaming revenue totaling $210.5 million. This signaled a marginal year-over-year decrease of 0.6% while maintaining parity with 2019 figures.

    Notably, online sports betting proved robust, generating $52.0 million, an impressive 69% surge from December 2022, fueled by a handle of $345 million.

    The latter reflected a substantial 58% uptick. Retail sports betting, in contrast, yielded $4.5 million from a handle of $32.1 million.

    Within the Lake Charles district of Louisiana, the reported revenue amounted to $83.1 million, witnessing a slight year-over-year dip of 3.3%.

    Leading the pack among Lake Charles properties was Golden Nugget Lake Charles, contributing $31.1 million, followed by L’Auberge Casino Resort Lake Charles at $28.1 million, Delta Downs Racetrack Casino Hotel with $14.2 million and Horseshoe Lake Charles generating $9.6 million.

    In Shreveport/Bossier, gaming revenue for the properties totaled $51.0 million, marking a slight year-over-year dip of -1.7%.

    Margaritaville Resort Casino led the way with revenue reaching $16.5 million, accompanied by Horseshoe Bossier City at $13.7 million and Bally’s Shreveport Casino & Hotel reporting $9.9 million in revenue.

    Meanwhile, the New Orleans district witnessed a more favorable trend, boasting a 2.8% year-over-year increase in revenue, amounting to $47.4 million.

    Harrah’s New Orleans emerged as the top performer, contributing $24.7 million in revenue. It was trailed by Boomtown Casino & Hotel at $9.7 million and Treasure Chest Casino at $7.0 million.

    Within the Baton Rouge district, properties reported revenue amounting to $22.4 million, reflecting a positive year-over-year growth of 2.1%.

    Leading the district, the L’Auberge Casino Hotel contributed $15.0 million in revenue, accompanied by Hollywood Casino Baton Rouge at $6.8 million and the Belle of Baton Rouge Casino Hotel at $0.7 million.

    Additionally, Evangeline Downs Racetrack & Casino in St. Landry Parish recorded revenue of $6.7 million, indicating a robust increase of 13.1% compared to December 2022.

    Legal sports betting was established in Louisiana in October 2021. Online betting didn’t take long before it was formalized in January 2022. Louisiana stood among the vanguard states and embraced the legalization of sports betting as part of an early adopter group.