Profits drop in Louisiana’s riverboat casinos
The casinos saw their revenue shrink by 16% last month
Louisiana has a number of casinos dotting its landscape and some of the most popular have always been the three riverboat casinos that operate out of Baton Rouge. However, the latest statistics show that the riverboats could be losing ground, as their revenues took a huge hit in December.
According to the latest data from the Louisiana Gaming Control Board, collective revenues for the state’s casinos rose 4% last month when compared to December of the previous year. That increase would be welcome by most; however, it was also met with a 16% decrease among the Baton Rouge riverboat casinos – Hollywood Casino, the Belle of Baton Rouge and L’Auberge Baton Rouge. In total, they only took in $19.4 million last month, a substantial drop from the $23 million they picked up in December 2017.
The riverboats have now recorded 16 straight months of declining sales. This does not bode well for the future of the gambling segment and leaves in doubt their future.
The Belle of Baton Rouge saw its revenue drop a staggering 38% year-on-year to $2.5 million. Hollywood reported a 9.2% increase over the previous month, receiving $4.6 million, but saw an 8.8% drop year-on-year in December. L’Auberge sales declined 11% year-on-year, dropping $1.5 million from the $13.8 million it collected in December 2017.
The state’s only other riverboat casino is operated out of New Orleans. It was the only to report year-over-year gains for last December. Among all four, they saw a 7.8% sequential monthly increase, but a 5.1% decrease year-on-year.