First the good news: Louisiana was up 14% last month. Now the less-good news: Take away the two new riverboats and the market was up 1%. L’Auberge Baton Rouge and Margaritaville, in Shreveport, were getting the job done, in essence, especially the former: Revenues in the Baton Rouge marketplace were up 59%. Margaritaville‘s rising tide ($11.6 million, third-best in the market) failed to lift all boats, as the Shreveport/Bossier City area fell 10%. Lake Charles was up 7%, as was New Orleans. Pinnacle Entertainment‘s Boomtown Boosier felt the effect of Margaritaville, off 18%, far, far worse than J.P. Morgan analyst Joseph Greff projected.
Sam’s Town took a 17% hit, while reliable Eldorado Shreveport held steady. Penn National Gaming‘s Hollywood Baton Rouge got eaten alive, its revenues falling 35% last month. Rival L’Auberge Baton Rouge outgrossed its two competitors combined, but everybody — except players — won in Lake Charles. L’Auberge du Lac was up 9% and Isle of Capri Casinos had a 2% gain. Despite so-so results around the Pelican State, Harrah’s New Orleans had a sufficiently robust month (up 22%) for the company to post the best non-Pinnacle gains.
