Louisiana sports betting and casino revenue increased in July as a new fiscal year began.
The four sectors of Louisiana gambling — video terminals, racinos (slots at racetracks), riverboat casinos and one land-based casino — combined for just more than $270.9 million in revenue last month. That was a 2.2% increase compared to the $265 million for June revenue in Louisiana.
As for sports betting, the handle slipped in a month-over-month comparison as sportsbook operators eagerly awaited the August return of preseason football, especially the state’s popular NFL team, the New Orleans Saints. But the revenue nearly doubled, from about $10.7 million in June to nearly $20.6 million in July.
Here is a closer look at Louisiana gaming for July.
All four portions of gambling in Louisiana casinos were up in revenue last month compared to June, which ended the 2021-22 fiscal year.
The largest growth came at the state’s four racetracks with slot machines, known as racinos, according to the Louisiana Gaming Control Board. The facilities combined for $29.3 million in revenue for July, an 8.1% boost over June. The state leader was Delta Downs Racetrack in Vinton, which pulled in $16.2 million for July, a 16.5% increase over June and about 55% of the state’s total.
The land-based casino at Harrah’s New Orleans reported a 7.7% increase in revenue, to about $22.63 million, for July. There was a 2.8% increase for Louisiana’s video gaming sector, with about 12,000 machines statewide, from $64.9 million in June to $66.74 million. And the Bayou State’s 13 riverboat casinos combined to collect $152.2 million for July, a 0.2% uptick from the previous month.
The figures for July were down 8.5% in a year-over-year comparison with the $295.9 million in July 2021, with all four categories showing declines.
There are no gambling websites for casino games in Louisiana.
The Louisiana sports betting revenue has been somewhat unpredictable from month to month, showing the volatility in the market.
The sports betting revenue in July was $20,598,283 — with $19,205,299 from online sportsbooks and $1,392,984 at retail outlets. That was a 92.6% increase from June’s $10.7 million in revenue. The hold, or win percentage, for the online sportsbooks was 18.6%, much higher than the typical 6% to 8%. In Louisiana, the mobile sports betting hold has dipped as low as 1.8%, in the April report, but the percentage has also been in double figures three times.
Tax revenues from sports betting were also up sharply, rising 71.8% from $1.42 million in June to about $2.48 million last month.
These increases happened despite a drop in sports betting handle, or amount wagered. In July the handle for sports wagering was $118,329,243, down 10.7% from June ($132,438,215). Of that July total, about $103.3 million, or 87.3%, came via online wagering.
The total handle was the lowest in the state since mobile Louisiana sports betting launched in late January. The retail sports betting handle fell even more in July, falling 20% from $18.7 million to just shy of $15 million.
The sports betting handle was less than half of what it was in February, which is typical at a time of year when there is no NFL, college football or NBA betting.