Louisiana gaming revenues see decline across the board
(The Center Square) — Louisiana’s gaming industry had a significant revenue decline in September, with figures reflecting decreases across riverboat casinos, racetracks, video gaming devices and sportsbooks compared to the same period last year.
Overall, riverboat casinos experienced a drop of $17.6 million, or 12%, from last September. The total decrease from August to September alone was $9.8 million, or 7%, a figure partially influenced by this year’s calendar.
September 2024 had one fewer Friday and Saturday compared to the same month last year, which impacted weekend gaming activity.
One of the more notable changes in the market came from Caesars New Orleans, which completed its rebranding on Sept. 11. The casino generated $16.1 million in gross gaming revenue for the month, marking a steep decrease of $2.8 million, or 14.7%, compared to the previous month.
Even more concerning, the year-over-year decline was $4.6 million, or 22%.
Despite the downturn, the state still collected $5.3 million in daily minimum payments from Caesars. The adjusted gross receipts for the fiscal year 2024-2025 through the end of September amounted to $52.7 million, down $3.4 million, or 6%, from the previous fiscal year.
The state has collected approximately $16.4 million in fees from Caesars for fiscal year 2024-2025.
The four racetrack facilities in Louisiana combined for $24.1 million in adjusted gross receipts from slot machines in September, a decrease of $2.4 million, or 9%, from August.
Year-over-year, the racetrack slot revenue was down $937,000, or 3.7%. The state collected $3.7 million in fees from racetracks for the month.
For fiscal year 2024-2025, total racetrack slot revenue reached $75.7 million, a decrease of $2 million, or 2.5%, from last year. As of the end of September, the state has collected $11.5 million in fees from racetrack operations.
Louisiana has 11,946 active video gaming devices spread across 1,389 locations. September’s net device revenue was $56.9 million, down $5.3 million, or 8.5%, from August. The revenue also decreased $3.2 million, or 5.4%, compared to September 2023.
So far in fiscal year 2024-2025, video gaming devices have generated $179.5 million in revenue, a $3.7 million, or 2%, decline from last year. The state has collected $54.5 million in franchise fees for the current fiscal year.
The sports betting market had mixed results in September. Retail sportsbooks accepted $31.7 million in wagers, generating $5.3 million in net proceeds and contributing $531,000 in state taxes.
Meanwhile, mobile sportsbooks brought in $320 million in wagers, with net proceeds of $47.2 million and $7 million in state taxes.
Daily fantasy sports, though smaller in scope, generated $1.5 million in gross revenue for the month. Net revenue stood at $162,000, and taxes collected by the state totaled $13,000.
