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The gambling sector in Louisiana concluded December with varied results across its multiple gaming categories, as per the latest statistics from the Louisiana State Police.
Video gaming machines produced $63.7 million in net device revenue in December, marking a 1.5% rise from the same month last year. Truck stops, the primary sources of video gaming machine revenue, generated $47.1 million, reflecting a 1.4% increase year-over-year.
Bars experienced a 4.7% increase, with revenue reaching $9.46 million. Conversely, hotels faced a significant decline, with revenue decreasing by 11.2% compared to last December, highlighting the ongoing challenges faced by the sector.
On a year-to-date basis, the video gaming industry has shown a slight overall uptick, reaching total revenue of $369.2 million, up by 0.7% from the previous year.
Caesars New Orleans, Louisiana’s sole land-based casino, reported revenue of $25.37 million for December. This represents a 5.0% decrease from November but a 2.6% increase in comparison to December 2023. Despite the decline in the month, year-over-year improvements suggest a degree of recovery in the industry.
Riverboat casinos documented $151.7 million in adjusted gross revenue in December, a slight drop from $151.8 million in November and an 8.1% fall from $158.2 million in December 2023. For the fiscal year to date, riverboat casinos have accrued $852.7 million in adjusted gross revenue and paid $183.3 million in fees to the state.
The leading riverboats were L’Auberge Lake Charles, with fiscal year to date revenue of $146 million, and Golden Nugget Lake Charles, topping the sector with $155 million in fiscal year to date revenue.
Slots at racetracks yielded $26.4 million in adjusted gross revenue for December, with a total of $4 million in state taxes remitted. Year-to-date, slots have amassed $152.8 million in adjusted gross revenue, slightly down from the previous fiscal year. This sector’s tax contributions have amounted to $23.2 million year-to-date.
Retail and mobile sports betting together accepted $390.7 million in wagers during December, representing a 3.6% increase compared to December 2023. However, net earnings from sports betting plummeted by 38.1% year-over-year to $34.5 million. Tax payments from sports betting also dropped, totalling $6.4 million in December, a decrease of 15.1% compared to last year.
The fall in net earnings was attributed to a notable year-over-year reduction in promotional deductions and decreased winning percentages in certain sports categories.
Fantasy sports contests recorded $2.4 million in gross revenues for December, with net revenues of $285,924 and taxes paid amounting to $22,874. Year-to-date, the sector has contributed a modest $52,778 in taxes to the state.
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