Louisiana’s gaming industry faced a decline in revenue during June, as reported by the Louisiana Gaming Control Board. The monthly revenue report revealed a year-on-year decrease of 9.7% and a month-on-month drop of 4.2%, with total revenue reaching $265 million.
Casino and Racino Revenue:
The combined revenue from Louisiana’s 13 riverboat casinos, four racinos, and Harrah’s land-based casino witnessed a year-on-year decline of 9.7%, dropping to $265 million from $294.9 million in June 2021. Compared to the previous month’s revenue of $276.7 million, June’s figures represented a decrease of 4.2%. Harrah’s New Orleans Casino was the only venue to experience a rise in revenue, reporting $21 million, a 1.2% increase from the previous month.
Revenue Breakdown by Gaming Segment:
Among the various gaming segments, racinos saw the largest decline, with an 8.3% drop in revenue from $29.58 million in May to $27.1 million in June. Video game terminals (VGTs) generated $64.9 million in June, representing a 6.5% decrease compared to May’s $69.4 million. The state’s 13 riverboat casinos collectively earned nearly $152 million, reflecting a 3.2% decline from the previous month’s revenue of $157 million.
Fiscal Year Performance:
For the fiscal year that concluded on June 30, riverboat casinos recorded a total revenue of $1.8 billion, marking a 12% increase over the $1.62 billion generated in the previous fiscal year. Harrah’s New Orleans Casino experienced a 7% rise in revenue, reaching $228.3 million compared to $213.2 million the previous year. Racino revenue also saw a 3% increase, rising from $321.5 million to almost $330 million.
Decline in Sports Betting:
Louisiana’s sports betting handle for June amounted to $132.4 million, marking the fifth consecutive month of decline. This figure represented a significant decrease of 22.6% from May’s handle of $171.1 million. Online sportsbooks accounted for $113.9 million in bets, while retail sportsbooks contributed $18.5 million. The gross revenue generated by Louisiana sportsbooks was $10.8 million, with mobile operators earning $10.5 million and retail sportsbooks earning $149,244. Retail sports betting operators had a win rate of just 0.8% in June.
Louisiana’s gaming industry faced a revenue decline in June, with casinos, racinos, and sports betting experiencing fluctuations in their financial performance. Despite the month-on-month and year-on-year decreases, the fiscal year’s overall revenue for riverboat casinos showed growth. The sports betting sector also witnessed a decline in handle for the fifth consecutive month. As the industry adapts to changing market conditions, Louisiana’s gaming landscape will continue to evolve, offering unique opportunities and challenges for both operators and enthusiasts.