{"id":24198,"date":"2019-05-21T06:26:42","date_gmt":"2019-05-21T14:26:42","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=24198"},"modified":"2019-05-22T10:32:39","modified_gmt":"2019-05-22T18:32:39","slug":"soggy-month-in-louisiana-igt-on-firm-ground","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/soggy-month-in-louisiana-igt-on-firm-ground\/","title":{"rendered":"Soggy month in Louisiana; IGT on firm ground"},"content":{"rendered":"

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. \u00a0The statewide gross was $199.5 million. The Shreveport<\/strong>\/Bossier City<\/strong> market \"\"suffered least, down 3%, while top-grossing Lake Charles<\/strong> was 7% off. New Orleans<\/strong> casinos were 5% lower while Baton Rouge<\/strong> may be nearing the end of its long plummet, down 6%. Caesars Entertainment<\/strong> won the month by dint of losing least, down 2.5% at Harrah’s\u00a0New Orleans<\/strong> to $23.5 million and flat at $14 million at Horseshoe Bossier City<\/strong>, while Harrah’s Louisiana Downs<\/strong> rebounded 11% to $3 million. Caesars suitor Eldorado Resorts<\/strong> had a rougher time of it, dropping 10.5% to $9 million at Eldorado Shreveport<\/strong>. Isle Grand Palais<\/strong> was flat at $8 million, while Belle of Baton Rouge<\/strong> plummeted a disastrous 48% to $2.5 million. (How do<\/em> they keep the doors open?)<\/p>\n

Penn National Gaming<\/strong> had a Caesars-like month. Boomtown New Orleans<\/strong> slipped 7% to $9.5 million while Boomtown Bossier<\/strong> was off 4.5% to $4.5 million and L’Auberge Baton Rouge<\/strong> (finally!) bucked the prevailing trend, up 2% to $13 million. Margaritaville<\/strong> in Shreveport was flat at $13 million while L’Auberge du Lac<\/strong> tumbled 12% to $23.5 million. (Numbers for Golden Nugget<\/strong> are not available.) All Boyd Gaming<\/strong> properties were revenue-negative, led by Sam’s Town<\/strong> with $6 million (-2%), Treasure Chest<\/strong> with $9 million (-8%), Delta Downs<\/strong> (-4.5%) $15 million, Amelia Belle<\/strong> with $3 million (-13.5%) and Evangeline Downs<\/strong> with $7 million (7.5%). Thanks for playing, guys, and may your luck be better next month.<\/p>\n

* International Game Technology<\/strong>‘s 1Q19 statistics were not at first impressive: The company was flat in North America<\/strong> 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<\/strong> analyst Ben Combes<\/strong> called it “solid … in line on a constant currency basis and 4% ahead of consensus.” Despite higher taxes in Italy<\/strong>, “We like IGT\u2019s 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<\/strong>, 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<\/a>. IGT appears\u00a0to have its head on straight.<\/p>\n","protected":false},"excerpt":{"rendered":"

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. \u00a0The statewide gross was $199.5 million. The Shreveport\/Bossier City market suffered least, down 3%, … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60,244,199,29,22,264,84,69,243,31,38,233],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/24198"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=24198"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/24198\/revisions"}],"predecessor-version":[{"id":24207,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/24198\/revisions\/24207"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=24198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=24198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=24198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}