Louisiana Casino Gaming Drops in May As Sports Betting Revenue Spikes

Louisiana Casino Gaming Drops in May As Sports Betting Revenue Spikes

By Bill Ordine

Fact Checked by Jim Tomlin

In Louisiana, the retail casino gaming industry saw across-the-board slumps in gaming revenue in May while sports gambling revenue saw an increase that was driven by a much larger hold by online sportsbooks.

Retail gaming revenue in Louisiana’s four gaming segments dropped to $276.7 million in May, down 5.3% from the April figure ($292.3 million). The retail gaming industry in the state is made up of video gaming, riverboat casinos, one land casino, and racinos (slots at racetracks).

Each of those segments saw a drop in adjusted gross revenue in a month-to-month comparison with April. There are no real money online gaming options in Louisiana.

Louisiana Revenue Performance Breakdown

Video gaming saw $69.4 million in AGR in May compared with $73.48 million in April, according to figures reported by the Louisiana Gaming Control Board. There are 12,000-plus video gaming terminals in Louisiana in locations from bars and restaurants to truck stops.

Riverboat casinos – there are 12 of them in the state – had nearly $157 million in AGR compared to $161.1 million in April. L’Auberge Lake Charles led the state with $30.65 million in revenue, followed closely by Golden Nugget Lake Charles at $29.3 million.

The only land-based casino, Harrah’s New Orleans, did about $20.8 million in May compared to almost $27 million in April.

And the state’s four racinos had about $29.58 million in AGR in May compared to April’s $30.76 million. Delta Downs in Vinton accounted for more than half of that, with $15.2 million in AGR.

In a year-over-year comparison, May 2022 saw an average decline of 9.54% from May 2021 ($305.9 million).

Louisiana Sports Betting, May vs. April

Betting handleMobile handle Revenue
May $171.136M $142.642M $25.327M
April $208.255M $186.044M $5.607M
Change Down 17.8% Down 23.3% Up 351.7%

Online, Retail Sportsbooks Gain in May

Combined, online and retail sports wagering net proceeds were about $25.3 million in May compared to about $5.5 million in April, an increase of 351.7%.

The seven online sports wagering operators in Louisiana saw $22.63 million in net proceeds, a huge increase over the $3.3 million from April when sportsbooks took a major hit. The state’s online sports wagering, which launched in late January, generated about $2.46 million in taxes in May.

The big month-to-month difference in mobile sports wagering was due to win percentage. The bettors did relatively well in April as the books had a slim 1.8% hold but in May, the sportsbooks had a comeback with a win percentage of 15.9%. Parlays made up the largest portion of net proceeds, nearly $11 million.

In retail sports betting, the casinos with sportsbooks saw net proceeds of about $2.7 million, an increase of 15.9% over April. Taxes paid from retail sports betting was more than $268,000.

May’s total sports betting handle was $171.1 million, down 17.8% from April ($208.255 million). But the retail handle went up 28.3%, from $22.2 million in April to about $28.5 million.

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WRITTEN BY
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Bill Ordine
Bill Ordine was a reporter and editor in news and sports for the Philadelphia Inquirer and Baltimore Sun for 25 years, and was a lead reporter on a team that was a finalist for the Pulitzer Prize in Breaking News. Bill started reporting on casinos and gaming shortly after Atlantic City’s first gambling halls opened and wrote a syndicated column on travel to casino destinations for 10 years. He covered the World Series of Poker for a decade and his articles on gaming have appeared in many major U.S. newspapers, such as the Los Angeles Times, Chicago Tribune, Miami Herald and others.
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Bill Ordine was a reporter and editor in news and sports for the Philadelphia Inquirer and Baltimore Sun for 25 years, and was a lead reporter on a team that was a finalist for the Pulitzer Prize in Breaking News. Bill started reporting on casinos and gaming shortly after Atlantic City’s first gambling halls opened and wrote a syndicated column on travel to casino destinations for 10 years. He covered the World Series of Poker for a decade and his articles on gaming have appeared in many major U.S. newspapers, such as the Los Angeles Times, Chicago Tribune, Miami Herald and others.
... Read More