Sports Betting Up, Gambling Down in Louisiana

Article by : Erik Gibbs Oct 21, 2024

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Louisiana’s gaming industry saw an overall decline in revenue in September, with the state’s Gaming Control Board reporting a total of $169.9 million from all forms of gambling. This marks an 8.3% decrease compared to the same period last year, as casinos and racetracks across the state experienced year-over-year declines. Despite the overall dip in revenue, however, sports betting emerged as a bright spot, posting significant gains compared to previous months.

All major gaming districts in Louisiana reported declining revenues, reflecting the industry’s broader struggles. However, the sports betting sector nearly doubled its revenue from August, with $49.9 million generated in September. 

This represents a 33% year-over-year increase, driven by a total betting handle of $320 million—a 29% rise compared to September 2023. The surge in sports betting highlights its growing role within the state’s gambling landscape, even as other forms of gaming face challenges.

The Lake Charles district, traditionally the state’s strongest gaming market, led in overall revenue with $67.3 million, though this represented a 7.4% decline compared to the previous year. Within the district, Golden Nugget Lake Charles posted the highest revenue at $24.6 million, but this was still a 5.2% drop year-over-year. L’Auberge Casino Resort, another major player in the area, generated $23 million, a 13.4% decrease, while Delta Downs Racetrack Casino Hotel brought in $12.8 million, down 2.9%.

The New Orleans district followed with $39.5 million in total gaming revenue, a decrease of 6.1% compared to September 2023. Harrah’s New Orleans, typically the largest revenue generator in the area, saw its earnings fall sharply by 22.1%, bringing in $16.1 million. 

However, Treasure Chest Casino bucked the downward trend, reporting $11.4 million in revenue, a 65.1% increase from the previous year. Boomtown Casino & Hotel in New Orleans generated $7.2 million, but this was down 17.7% year-over-year.

In the Shreveport/Bossier City district, properties posted $39.1 million in revenue, an 11.4% decline compared to the same month last year. Margaritaville Resort Casino led the district with $14.5 million, though this marked a 4.9% year-over-year drop. Horseshoe Bossier City brought in $8.1 million, down 22.1%, while Bally’s Shreveport Casino & Hotel reported $7.3 million, an 11.3% decrease compared to September 2023.

The Baton Rouge district also experienced a significant drop, with total revenue of $18.6 million, down 10.5% year-over-year. L’Auberge Casino Hotel led the district with $11.8 million, a 6.2% decline from the previous year. The Queen of Baton Rouge, another major casino in the area, generated $6.7 million, down 8.2%. The Belle of Baton Rouge faced the steepest drop in the state, with revenue plummeting 88.8% to just $100,000 compared to September 2023.

Elsewhere in the state, Evangeline Downs Racetrack & Casino in St. Landry Parish saw its revenue decrease by 3.9% year-over-year, generating $5.7 million.

While the state’s casinos continue to grapple with post-pandemic challenges and a shifting market, the rapid growth in sports betting offers a silver lining. The increase in betting activity highlights a growing trend where sports enthusiasts are increasingly turning to legal sports wagering platforms, driving up the overall handle and revenue in the sector. However, it remains unclear if this boost from sports betting will be enough to offset the long-term declines facing Louisiana’s more traditional gaming operations.