{"id":855766,"date":"2024-03-20T10:33:19","date_gmt":"2024-03-20T17:33:19","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/shop\/?p=855766"},"modified":"2024-03-20T10:33:19","modified_gmt":"2024-03-20T17:33:19","slug":"flat-chest-in-louisiana","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/blog\/flat-chest-in-louisiana\/","title":{"rendered":"Flat Chest in Louisiana"},"content":{"rendered":"\n

Thanks to saturation<\/strong> of casinos in the Keystone State, gambling revenues in Pennsylvania<\/strong> were up but 1%. That’s actually a 13% decline from 2019, to $279.5 million. A nice haul, to be sure. Smoke-free Parx Casino<\/strong> fell off 4.5% but led all comers with $45.5 million. The next-best competitor in the City of Brotherly Love market was Philadelphia Live<\/strong>, surging 16.5% to $22 million. Rivers Philadelphia<\/strong> continued to fade, down 5.5% to $18.5 million. Charmless Harrah’s Philadelphia<\/strong> (above<\/em>) plunged 18% to $11 million, ceding fourth place to Valley Forge Resort<\/strong> with $11.5 million, up 10.5%.<\/p>\n\n\n\n\n\n\n\n

Champion of outstate casinos was Wind Creek Bethlehem<\/strong>, jumping 13% to $43 million. In the Pittsburgh<\/strong> area, The Rivers<\/strong> ($27.5 million, -7%) and Meadows Hollywood <\/strong>($15.5 million, -5%) continue to cede market share to newbie Pittsburgh Live<\/strong> ($10 million, +8%). Mohegan Pocono<\/strong> was up 4% to $17.5 million, while Mount Airy<\/strong> rose 3% to $15 million. Presque Isle Downs<\/strong> climbed 2% to $8.5 million, Hollywood Penn National<\/strong> slipped 7.5% to $13.5 million (the Hollywood retrofitting of Penn Entertainment<\/strong>‘s home-turf casinos hasn’t worked out as planned) and Hollywood York<\/strong> was up 4% to $8 million. Three small casinos were flat: Lady Luck Nemacolin<\/strong> ($1.5 million), Hollywood Morgantown (below<\/em>, $5.5 million) and Parx Shippensburg<\/strong> ($3 million).<\/p>\n\n\n

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Internet casinos were good for another $185 million. They were dominated, to varying degrees, by Hollywood Casino<\/strong> ($77 million), FanDuel<\/strong> ($45 million) and BetRivers<\/strong> ($29 million). Sports betting yielded $50.5 million on handle of $662 million, not a great showing for the house. Promotional allowances wiped out $20 million of that gain, too. FanDuel walloped DraftKings<\/strong>, $25.5 million to $14 million. Fighting over the remainder were ESPN Bet <\/strong>($3 million), BetRivers ($2.5 million) and BetMGM<\/strong> ($2.5 million). Parx came up short of $1 million and Caesars Sportsbook<\/strong> managed to lose money. It wasn’t a great month for the Roman Empire.<\/p>\n\n\n\n

Internet gambling vaulted<\/strong> up north in Michigan<\/strong>, where players left $188 million on the cyber-green felt. BetMGM<\/strong> was predominant with $50 million, although FanDuel<\/strong> continues to close in, with $48.5 million. Not to be left out of the party was DraftKings<\/strong> with $41.5 million. Other i-casinos making respectable showings were BetRivers<\/strong> ($12 million) and Caesars Digital<\/strong> ($10.5 million), on aggregate handle of $403 million. It’s strange that Caesars doesn’t make a bigger online bang for its marketing bucks, given its brand name and cachet. Sports bettors coughed up $30.5 million but got $13 million back in freebies. FanDuel ($13.5 million) bested DraftKings ($10 million), which in turned skunked BetMGM ($3.5 million) and ESPN Bet <\/strong>($2 million). Fanatics<\/strong>, BetRivers and Caesars Sportsbook<\/strong> managed to scrape together a bare million between them.<\/p>\n\n\n

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Gambling revenues nosed up<\/strong> a percentage point in Louisiana<\/strong> last month, although they’re still 2% behind where they were in 2019. Patrons came less (-4%) but spent more (+3%). The reversal of Louisiana’s recent slide is good and encouraging news, especially for a state so crowded with casinos. (Sports betting, it should be noted, grossed $31 million on handle of $253 million.) Unfortunately, the good news does not extend to Caesars Entertainment<\/strong> in Lake Charles<\/strong>, where the impact of Horseshoe Lake Charle<\/strong>s has been thoroughly blunted, plunging 25.5% to a last-place $6 million. The only casino to gain revenue was Delta Downs<\/strong>, up 2.5% to $14 million. It would appear to have lured players not only from Horseshoe but L’Auberge du Lac<\/strong> ($24.5 million, -2.5%) and leader Golden Nugget <\/strong>($25 million, -3%).<\/p>\n\n\n\n

Caesars could take heart in its New Orleans<\/strong> performance. CEO Tom Reeg<\/strong> says the Caesars rebranding (in progress) of Harrah’s New Orleans<\/strong> is already paying off and the numbers sure don’t make a liar of out him. Harrah’s was up 10% to $24 million\u2014Lake Charles-sized numbers. Boomtown New Orleans<\/strong> was up 2.5% to $10.5 million while Treasure Chest <\/strong>was flat at $7 million. Fair Grounds<\/strong> racino cantered more slowly ($3.5 million, -7%), Amelia Belle<\/strong> faded 2.5% ($2.5 million) and Evangeline Downs<\/strong> was down a point ($6 million). Meanwhile, what’s keeping Belle of Baton Rouge<\/strong> open? It sank 43% to a bottom-scraping 600 dimes. L’Auberge Baton Rouge<\/strong> ceded 2%, to $15 million, to newcomer Queen Casino<\/strong>, which catapulted 71% to $7 million. In the morass that is Shreveport\/Bossier City<\/strong>, a point was gained by Margaritaville<\/strong>, to put it at $16.5 million and even farther in front of the competition. Best of the rest were Horseshoe Bossier<\/strong> ($10.5 million, -3%) and Bally’s Shreveport<\/strong> ($9.5 million, 1%). Area gamblers love them some smoke, surging to Sam’s Town<\/strong> ($3.5 million, +13%), although not as much to Boomtown Bossier<\/strong> ($4 million, -5.5%). Lousiana Downs <\/strong>was up 10% to $4 million, not doing too badly for itself since leaving the Caesars fold.<\/p>\n\n\n

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Jottings:<\/em><\/strong> In the Missouri<\/strong> Lege, the pound of flesh for sports betting continues to be the legalization of black-market slots. Their latest enlistee is state Sen. Crystal Quade<\/strong> (D), who is coupling the two in a new bill … Wynn Resorts<\/strong> and Related Cos.<\/strong> have pitched a $12 billion (!) megaresort for New York City<\/strong>‘s West Side, as seen above. (Good luck making the ROI on that.) The proposed development looks remarkably unremarkable<\/a> … Lawmakers in Lithuania<\/strong> are fed up with gambling ads, so much so that they may ban them. Join the crowd … Prop bets in Minnesota<\/strong>? Forget it. Low tax rates? Nada. Welcome to the probable form of sports betting in Minnesota, if the Lege can ever bring itself to legalize it<\/p>\n","protected":false},"excerpt":{"rendered":"

Thanks to saturation of casinos in the Keystone State, gambling revenues in Pennsylvania were up but 1%. That’s actually a 13% decline from 2019, to $279.5 million. A nice haul, to be sure. Smoke-free Parx Casino fell off 4.5% but led all comers with $45.5 million. The next-best competitor in the City of Brotherly Love […]<\/p>\n","protected":false},"author":83928,"featured_media":855767,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[1728],"tags":[],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.lasvegasadvisor.com\/shop\/wp-content\/uploads\/2024\/03\/Harrahs-Philadelphia-1-scaled.jpg?fit=2560%2C1920&ssl=1","_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/posts\/855766"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/users\/83928"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/comments?post=855766"}],"version-history":[{"count":0,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/posts\/855766\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/media\/855767"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/media?parent=855766"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/categories?post=855766"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/tags?post=855766"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}