Louisiana Casinos Generate $183.8M in November, Up 2.9% Year-on-Year

Louisiana riverboat and its one land-based casino recorded $183.8 million in revenue for November, up from the previous year’s figure of $178.5 million and representing a year-on-year increase of 2.9%.  

The figures, published by the Louisiana State Police, show that of the combined total, riverboat casinos accounted for $152.7 million, with revenue remaining flat, increasing only 0.6% year-on-year from $151.8 million. The state’s only land-based casino, Caesars New Orleans, generated $31.1 million last month, up 16.3% year-on-year from $26.7 million.   

As Louisiana casinos experience a positive November, the state’s gaming regulator, the Louisiana Gaming Control Board, has joined other US states in fighting back against the rise in prediction markets by warning licensed vendors not to offer sports event contracts.  

Caesars New Orleans Leads in November 

Of the state’s 16 casinos, Caesars New Orleans narrowly took the spot of biggest revenue generator, just beating L’Auberge Lake Charles, which reported revenue of $27.1 million last month. Yet, of the 16 casinos, only seven reported year-on-year revenue increases, with Live! Casino Louisiana being the only casino not to report an annual revenue rise due to opening in February of this year.  

Of the casinos reporting declines, seven reported double-digit revenue drops, with L’Auberge Baton Rouge experiencing a minor decrease of 1.8%, with revenue dropping from $14.4 million to $14.1 million year-on-year.  

Belle of Baton Rouge had the biggest decline in revenue for November, dropping 48.6% from $575,208 to $295,629. The drop is attributed to Bally’s rebranding of its property and the closure of its temporary land-based site on November 14. The updated casino, now renamed Bally’s Baton Rouge, is expected to open its doors to patrons on December 6, marking the end of the riverboat casino's operations as it transitions to a land-based facility.  

Other double-digit declines came from Margaritaville, down 27.2%, Bally’s Shreveport, down 26.6%, Boomtown Bossier, down 19.4%, Boomtown New Orleans, down 16%, Sam’s Town, down 13.7%, and Golden Nugget Lake Charles, which dropped 10.1% year-on-year.  

Caesars New Orleans also had the biggest year-on-year revenue increase, with revenue rising 16.3%. Following this, The Queen Baton Rouge had the second-greatest revenue surge, with revenue up 9.9% year-on-year.  

Other increases came from Horseshoe Lake Charles, Amelia Belle, Treasure Chest, L’Auberge Lake Charles, and Horseshoe Bossier City.  

Louisiana Regulator Target Prediction Markets 

As casinos continue to perform in November, the Louisiana Gaming Control Board chairman, Christopher Hebert, has joined other state regulators like Nevada and Pennsylvania in warning licensed sportsbook operators in the state not to “explore opportunities” with prediction markets.  

The warning noted that there could be possible repercussions to follow if a licensed operator is found to be issuing sports event contracts, which the Louisiana Gaming Control Board views as illegal betting.   

A letter obtained by iGB read, “It is the board’s position that such activities constitute sports wagering under Louisiana law and are not being conducted in compliance with Louisiana Gaming Control law or under a valid Louisiana issued licence or permit.” 

Sportsbook operator Fanatics, which is licensed in Louisiana, recently launched its own prediction markets in 24 states dubbed Fanatics Markets. The operator also joined DraftKings and FanDuel in leaving the American Gaming Association following its move into prediction markets.  

So far, it's unknown whether Fanatics has faced any repercussions as a result of this.