Louisiana Casinos Not Experiencing Much Revenue Movement
The casino gambling industry in the US has been struggling for so long
that it has become a moral victory for casinos and states when their gaming revenue holds steady. That is the case in Louisiana
where gambling revenue has stayed stagnant over the past couple of months.In April and May
Louisiana casinos did not drop in revenue
and that can be considered a positive in today’s gaming industry. For May
Louisiana casinos won $203.2 million. That number was only slightly down from the $203.6 million the casinos won in May of 2010. When the numbers are that close
analysts believe it could just come down to a lucky gambler here and there.”That type of drop off of less than a million dollars could easily be explained by the weather
or a gambler who happened to get lucky and hit big in one month
” said Gaming Analyst Brad Dawkins. “It doesn’t make much sense to read more into it than that. The fact that they are staying close to even is a good thing for the industry’s future.”In April
gamblers lost $202.5 million
again on par with the May figures. While the rest of the country has dealt with the economic recession
Louisiana has also had to overcome Hurricane Katrina in 2005
and various storms in the past couple of years that have forced casino closures.The industry has not only survived the economic challenge
but they have started to expand. Pinnacle Entertainment is prepared to open a new riverboat casino in Baton Rouge. The casino will be competing with another riverboat casino set to open in Lake Charles. Creative Casinos LLC is developing the Lake Charles casino.The Gulf Coast is dealing with competition from all over the US as many states have expanded their casino options. Mississippi
another Gulf Coast state
is expected to see much lower revenue than Louisiana casinos after tough weather caused many Mississippi casinos to close in May.Las Vegas and Atlantic City
the two biggest gaming markets in the US
have both experienced double digit declines in revenue in the past couple of years since the recession. Nevada casinos have started to rebound
with the World Series of poker taking place at the Rio in Las Vegas from May until July. many AC casinos are trying to survive by re-branding themselves. June 17
2011Posted By Terry GoodwinStaff Editor
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