Jim Tomlin@jdtomlin68August 25
Louisiana Casinos Reopen Monday, But DiamondJacks Shutters Permanently Because Of COVID-19. Posted on: May 18, 2020, 05:00h. Last updated on: May 18, 2020, 08:30h. Tom Reeg wasn’t impressed with the Belle of Baton Rouge when he was leading Eldorado Resorts and had the Louisiana-based riverboat casino in his portfolio. It’s no surprise, then, that Reeg, who. Louisiana allows riverboat casinos to operate on land. On Wednesday a law was signed by Louisiana Gov. John Bel Edwards that would allow for larger onshore gaming floors for riverboat casinos. Under Senate Bill 316, the casino gaming floor can be moved nearly a quarter mile or 1,200 feet from the berth of the riverboat.
th, 2020 - 03:30pm@jdtomlin68Louisiana’s riverboat casinos, which represent the largest share of gaming revenue in the state, had a revenue decline of 10% in July compared to the same month in 2019.
However, revenue at the state’s 12,700 video gaming devices was up 25.5% compared to July of last year. That was one piece of good news for Louisiana’s coffers in a month when revenue at the state’s lone land-based casino fell more dramatically and racetrack slot machines declined slightly.
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Casinos and other forms of gaming in Louisiana are fully back underway after being closed for months in the wake of the coronavirus pandemic, which shuttered casinos all over the country.
Gaming operations in New Orleans were down 20% in July in a year-over-year comparison, according to NOLA.com, the website of the combined Times/Picayune and New Orleans Advocate operation.
Louisiana Gaming Rides High at VGTs
The rise in Louisiana video gaming happened despite the fact that, according to NOLA.com, Gov. John Bel Edwards and New Orleans Mayor LaToya Cantrell ordered bars to shut down in July as a preventative measure to fight COVID-19.
The state’s VGTs drew $62,664,240 of revenue last month, up 25.5% from the $49,928,726 in July 2019. Revenue from machines at bars and restaurants was down by more than 50%, but a 42% spike at truck stops — which have 7,529 machines, more than half of the state total — and a 37.6% rise at racetrack OTBs helped make up for it, accounting for the overall increase.
The 14 riverboat casinos operating in Louisiana combined for $136,984,253 of revenue in July, according to Louisiana Gaming Control Board’s monthly report. That was down 10.3% from the $152,729,319 recorded in July 2019.
The biggest winner among riverboat casinos in July was L’Auberge Baton Rouge, where the revenue spiked by more than $1.45 million in a year-over-year comparison, from $11.5 million to $13 million. The highest gainer in percentage, and nearly in total revenue increase, was Boomtown New Orleans. There, the July figure was nearly $10 million, 13.5% higher than the $8.8 million in July 2019.
Riverboat Casino Louisiana
For total revenue, Golden Nugget Lake Charles led the state with $27.6 million in July, down 1.2% from the same time last year.
One riverboat facility, DiamondJacks Casino & Hotel in Bossier City, has closed permanently, according to the NOLA.com report.
The state’s only land-based casino, Harrah’s New Orleans, saw a drop of 36.3% compared to July 2019, from $20.4 million to $13 million.
Racinos Down Just Slightly in July
Louisiana’s four racinos, or racetracks with slot machines, combined for $27,645,635 in July, down 5.2% from July 2019. The racino leader by far was Delta Downs in Vinton, with $14,977,349, just a 1.6% decrease compared to last year.
This year is interesting in Louisiana for the gaming industry. Bel Edwards signed a daily fantasy sports bill in July, finally setting in motion a DFS wagering mechanism that the state's voters approved in 2018. And a sports betting referendum will greet voters in November. Each parish must vote on the measure individually.
The last full month before the pandemic was February. From then until March, when gaming facilities began closing, Louisiana saw a 53% percent decline in gaming revenue.
Steamboat Casino Louisiana
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sharetweetcopy linkLink copied!WRITTEN BY@jdtomlin68Jim Tomlin has more than 20 years of experience in sports journalism as an editor and writer. He has covered pro and college sports from football, baseball, basketball, soccer, golf, motorsports and more for publications such as the Tampa Bay Times, SaturdayDownSouth.com, SaturdayTradition.com and FanRag Sports.... Read MoreJim Tomlin has more than 20 years of experience in sports journalism as an editor and writer. He has covered pro and college sports from football, baseball, basketball, soccer, golf, motorsports and more for publications such as the Tampa Bay Times, SaturdayDownSouth.com, SaturdayTradition.com and FanRag Sports.... Read MoreARTICLES YOU MAY LIKE
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BATON ROUGE, La. (AP) — Louisiana approved its first application to move a riverboat casino to land.
The Gaming Control Board approved the application from the owners of a Lake Charles-area riverboat 18 months after the legislature decided that state-regulated casinos outside New Orleans don’t have to stay on the water.
Eldorado Resorts plans a new $112.7 million casino between the parking lot and hotel for the Isle of Capri riverboat in Westlake, The Advocate of Baton Rouge reported.
The new casino approved last week will be nearly triple the size of the riverboat. That will allow nearly 120 more slots, seven more tables, a VIP lounge and the only restaurants overlooking the lake.
The application from Eldorado Resorts, a company headquartered in Reno, Nevada, will set the precedents for the other 14 riverboats, which all are looking to come ashore, said gaming board chairman Ronnie Jones.
He said several have taken initial steps, with the Treasure Chest Casino in Kenner possibly the furthest along.
“This is a game changer,” said state Sen. Ronnie Johns, R-Lake Charles. He was chief sponsor of the law allowing casino companies to scuttle the riverboats and move to land within 1,200 feet (366 meters) of the waterway where they are licensed to operate.
When lawmakers legalized gambling 25 years ago, Harrah’s Casino in New Orleans was the only one allowed on land. The others had to be on riverboats, with gambling allowed only when the boat was sailing.
The first of those rules to go was the requirement to sail. Since then, The Golden Nugget Casino Resort in Lake Charles filled a slough with its gambling floor.
Casino owners and state officials hope moving to land will reinvigorate stagnant and even falling revenues for the state’s largest taxpayers. Louisiana took in $715 million in gambling taxes and about $712 million in severance and other mineral-related taxes for the fiscal year that ended June 30. Economists estimated the previous week that this fiscal year’s riverboat casino revenues would be down $8.6 million to $12.8 million from last year’s.
The law requires riverboats to provide “economic development” justification to move on land.
That meant expansion such as pools, spas and entertainment that would bring in more customers and financing.
“It’s not all about putting money in slot machines. It’s about the experience,” said board member Julie Berry, a certified public accountant from nearby Jennings. She said she doesn’t gamble but she would go to the new Eldorado casino for dinner by the lake.
Gary Carano, Eldorado Resorts executive chairman, said he wants improvements to make the smaller Westlake property more competitive with the Golden Nugget and L’Auberge de Lake Charles, the Las Vegas-style resorts a few miles south.
Nongambling amenities, such as fine dining, will increase the number of customers and bring in almost as much revenue as are collected from slot machines and craps tables, he said.
Carano expects to start construction by the end of January and employ about 300 construction workers. The project should finish in May 2021.
About 22 employees will lose boat-related jobs but the total number of worker should rise by nearly 70, from 735 to 804 when the casino comes ashore, according to the plan.