Folks down in the Pelican State had better things to do than gamble last month … like clean up after Hurricane Isaac. This might account for a 5% year/year decline in casino revenues. Louisiana‘s gambling venues grossed $200 million last month, posting a 2% increase entirely on the strength of Pinnacle Entertainment‘s new L’Auberge Baton Rouge. And I mean strong: $13 million, which was more than Baton Rouge‘s two other casinos grossed ($12 million) together, averaging a 20% loss of business to Pinnacle.
But that’s not all … L’Auberge Red Stick brought about 69% year/year growth in the Baton Rouge casino market, pushing it ahead of New Orleans ($25 million vs. 
$23 million). Louisiana Gov. Bobby Jindal (R) opposed this project and, faced with revenue and job creation on that magnitude, he’s welcome to suck it. Remember, this is the same fella who tried to demonize high-speed rail along the I-15 corridor as “a train from Disneyland to Las Vegas,” even as his underlings coveted the federal-stimulus money for themselves, leading to an ignominious, ass-covering retreat. Jindal rarely misses an opportunity to stick it to the very casino industry whose tax dollars help pay his six-figure salary. Nice guy.
Lake Charles continued to prosper, up 3% as L’Auberge du Lac posted million-dollar-plus gains. Only Boomtown Bossier (+5%) had a positive month in the Shreveport market, down 
6% overall. Despite a minor setback at Boomtown New Orleans (-2%), Pinnacle had a breakout month, becoming the #1 player in Pelican State gaming, with a $62 million gross. Adding insult to injury, newly dethroned Caesars Entertainment ($48 million) had a hard-luck month, whether at Harrah’s New Orleans (-18%), Louisiana Downs (-6%) or Horseshoe Bossier City (-9%). Isle of Capri Casinos‘ lone Lake Charles riverboat was off 10.5% while Boyd Gaming‘s Delta Downs racino (+6%) negated slippage at the Shreveport Sam’s Town (-7%) and aboard Treasure Chest (-2%). Although some New Orleans casinos were nursing a post-Isaac hangover both the Fair Grounds racino (up 12%) and Peninsula Gaming‘s Amelia Belle (+2%) were in the pink. Both Amelia Belle (+5% YTD) and Evangeline Downs (+3%) look to be reliable little contributors to the Boyd coffers.
In a totally unsurprising development, Boyd Gaming executive veep Bob Boughner told Nevada gaming regulators that “beautification” of the Echelon site would proceed but there are no plans to resume the five-hotel epic. As though 
to symbolize Echelon’s frozen-embryo status, a “decorative” shroud will be draped over the steel skeleton by January, literally putting the project under wraps. I met with Boyd execs late this summer and it was clear both from their words and deportment that the company is in no hurry whatsoever to re-start Echelon and they’re just fine with that. They also appeared somewhat skeptical of the strength of such Las Vegas Strip recovery as we’ve seen and, given Las Vegas Convention & Visitor Authority reportage, who can blame them? Whatever Boyd does with Echelon and whenever
it’s done, it’s a dead certainty that we won’t see a resumption of the $4.8 billion CityCenter clone that was originally planned. CityCenter may be doing better than expected (enough to justify launching a long-contemplated buffet revamp) — depending on your level of expectations — but it’s an experiment we’ll not see repeated in our lifetimes.
A moment of silence, please, for misconceived Aliante Station, which has formally passed from Station Casinos to a consortium of creditors who are 
advised by former Boyd CFO Ellis Landau. “Almost-empty Station” is an orphan now, Caesars co-owners Texas Pacific Group and Apollo Management having been forced out, a ancient reprisal for some rather dodgy lobbying efforts that resulted in Station fleeing Missouri in 2000, with regulators hot upon its heels. Unfortunately for Landau’s employers, Aliante Station doesn’t make an attractive acquisition candidate, but at least it’s turning a profit at last, now that it’s out from under elephant-sized debt service.
Sheldon Adelson’s red-headed stepchild, the one-off known as Sands Bethlehem has turned into quite a solid performer for the company, whose owner and COO both separately dissed it on various occasions. That’s one of several unpleasantries that are whited out in this Associated Press snow job. No mention, either, of Adelson’s reneged pledge to build a museum on the site. Given the fiscal struggles the nearby National Museum of Industrial History underwent, few are likely to hold Adelson’s rash promise against him and he’s since found other uses for his money.* Speaking of red-headed stepkids …
If the official blog page of Harrahs.com loves it some Bill’s Gamblin’ Hall & Saloon (and offers five reasons why, including bargain plays and Cook E. Jarr) why is Gary Loveman in such a hurry to turn Bill’s into a douchebag magnet (“Caesars Drai’s“) by piling a nightclub and swimming pool onto its roof? Just askin’.
* — If the RNC has $3 million left over from its Tampa bash, does this mean the irascible Sheldon’s going to demand some of back? Considering how cheaply he was able to buy Florida Gov. Rick Scott (R-LVS), he could probably purchase the entire Sunshine State Lege with that dough and still have walking-around money.
