Spring Brings Slight Revenue Boost to Louisiana Casinos
Spring is in full bloom for Louisiana casinos.
The four segments of Louisiana’s gaming industry in March combined for more than $300 million in revenue, the first month the state has hit that figure since May 2021.
And if last year is anything to go by, the news may well get even better over the next few months.
In total, Louisiana earned $302,435,095 in gaming revenue in March, a 12.8% increase from February’s $268.1 million.
Here are three takeaways from the March game in Louisiana.
All four sectors report increases
The four components of casino gaming in Louisiana — video games, racinos (slot machines at horse racing facilities), river casinos and a land-based casino — all increased revenue in March compared to February, according to reported numbers. by the Louisiana Gaming Control Board.
The biggest increase came in the four racinos of the state, where revenue rose from $25.2 million in February to $31.2 million in March, a 23.8% increase. Harrah’s Louisiana Downs nearly doubled its consumption from $1.85 million to $3.56 million between February and March.
With more than 12,000 video terminals statewide (with machines in truck stops, hotels, race tracks, bars and restaurants), combined revenue grew 13.9% from 71 $.1 million in February to nearly $81 million in March.
Land-based casino Harrah’s New Orleans posted a 13.1% increase to $22.8 million in March from $20.2 million the previous month.
And river casinos reported a 10.4% increase in numbers. The 13 operating river casinos generated $167.43 million in adjusted gross revenue, compared to $151.65 million in February.
There are no real money online casino options available in the Bayou State.
The pattern could repeat itself in 2021
March 2021 marked the start of a strong three-month spring period for Louisiana casinos and racinos.
During that month, the state took in $309.75 million in revenue, beginning a three-month streak of more than $300 million. These are the best three months of 2021 for the Louisiana gaming industry.
This winning streak peaked in April 2021 with $320.5 million in revenue.
So while the year-over-year comparison is down slightly (approximately $7.3 million less in March 2022 than in March 2021), in general, spring brings an increase in interest state for games.
We’ll see if last month triggers a similar spike in 2022.
The drop in the sports betting handle is surprising
The only surprising news from Louisiana in March concerned sports betting.
Since the launch of mobile sports betting in Louisiana at the end of January, the activity has grown considerably. In state after state that allows people to bet on sports from anywhere, the online market holds 60% to 98% of the sports betting dollars wagered. Louisiana was no exception, with $205.75 million wagered via mobile in March and nearly $27 million wagered at POS.
But the surprise came in a month-on-month comparison. Nearly every state saw its handful of sportsbooks rise in March compared to February, driven mostly by NCAA basketball tournament action, but that didn’t happen in Louisiana. In Bayou State, total sports betting was $232.73 million in March, down 2.4% from February ($238.4 million).
Of the 12 states that have reported March numbers so far, Oregon is the only one, besides Louisiana, in which sports betting management fell between February and March. And betting on college events is illegal in Oregon, so the state was unaffected by March Madness.
Louisiana sports betting revenue increased 74.3% from $17.3 million in February to $30.1 million in March.