Gaming revenues were down 5.5% last month in the Bayou State, particularly unimpressive when you consider that they fell 8% in the same month last year. The statewide gross was $199.5 million. The Shreveport/Bossier City market 
suffered least, down 3%, while top-grossing Lake Charles was 7% off. New Orleans casinos were 5% lower while Baton Rouge may be nearing the end of its long plummet, down 6%. Caesars Entertainment won the month by dint of losing least, down 2.5% at Harrah’s New Orleans to $23.5 million and flat at $14 million at Horseshoe Bossier City, while Harrah’s Louisiana Downs rebounded 11% to $3 million. Caesars suitor Eldorado Resorts had a rougher time of it, dropping 10.5% to $9 million at Eldorado Shreveport. Isle Grand Palais was flat at $8 million, while Belle of Baton Rouge plummeted a disastrous 48% to $2.5 million. (How do they keep the doors open?)
Penn National Gaming had a Caesars-like month. Boomtown New Orleans slipped 7% to $9.5 million while Boomtown Bossier was off 4.5% to $4.5 million and L’Auberge Baton Rouge (finally!) bucked the prevailing trend, up 2% to $13 million. Margaritaville in Shreveport was flat at $13 million while L’Auberge du Lac tumbled 12% to $23.5 million. (Numbers for Golden Nugget are not available.) All Boyd Gaming properties were revenue-negative, led by Sam’s Town with $6 million (-2%), Treasure Chest with $9 million (-8%), Delta Downs (-4.5%) $15 million, Amelia Belle with $3 million (-13.5%) and Evangeline Downs with $7 million (7.5%). Thanks for playing, guys, and may your luck be better next month.
* International Game Technology‘s 1Q19 statistics were not at first impressive: The company was flat in North America lottery revenue, down 2% in North American gaming and interactive revenues, fell 10% in Italian revenue and 7% in other international jurisdiction. Nonetheless, Credit Suisse analyst Ben Combes called it “solid … in line on a constant currency basis and 4% ahead of consensus.” Despite higher taxes in Italy, “We like IGT’s defensive revenues, long-term contracts, Italian gaming and lottery business, stabilizing US gaming business and leverage to US sports betting.” IGT saw benefit from the ramp-up of Encore Boston Harbor, will contributed to an 8% in domestic machine sales. There may be some asset sales on the horizon: IGT said it would raise capex dollars by monetizing $80 million worth of non-core assets. Yeah, “solid” seems about right. IGT appears to have its head on straight.
