• Sat. Jun 12th, 2021

Income Stoop, Layoffs Mark Tough 12 months for Louisiana Gaming Business

BySpeed Casino

Jan 16, 2021

Posted on: January 15, 2021, 04:09h. 
Final up to date on: January 15, 2021, 05:09h.

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Slammed by hurricanes and COVID-19, the Louisiana gaming business misplaced practically a billion {dollars} in 2020 in comparison with the earlier 12 months. The business additionally shed hundreds of jobs.

A buyer walks down a passageway to the gaming flooring at L’Auberge On line casino in Baton Rouge. Lodge-casinos in Louisiana suffered a decline in income and layoffs in 2020. (Picture: The Advocate)

Via November 2020, gaming income was down greater than $830 million statewide in comparison with the identical interval the earlier 12 months, in accordance with the Each day Advertiser newspaper in Lafayette. At the least 4,790 staff have been laid off.
If the identical pandemic-related stoop continued into December, the business shall be down $1 billion in comparison with 2019. 
The state’s solely land-based on line casino, Harrah’s New Orleans, misplaced $50 million in April and Could. Due to coronavirus restrictions, the resort took in no cash throughout these months, the newspaper reported. General, Harrah’s was down $137.2 million.

The state’s riverboat casinos additionally skilled a pointy decline in income for the 12 months ending in November. Riverboats have been down $525.7 million, a 31.6 % loss from the earlier 12 months. 

Hardest-hit have been the resorts in Lake Charles within the southwestern a part of the state. Two lethal hurricanes clobbered this space final 12 months solely six weeks aside. With COVID-19 restrictions and injury from Hurricanes Laura and Delta, income was down $218.7 million on the riverboats in Lake Charles.
Casinos in different components of the state additionally misplaced income in 2020 in comparison with one 12 months earlier. 
Video gaming machines in eating places, racetracks, truck stops, and different places misplaced $76.5 million by means of November 2020. This can be a 13.2 % drop from the earlier 12 months.
Hundreds Out of Work
The job-loss totals even have been gloomy.
On the Horseshoe in Bossier Metropolis, 978 staff have been laid off within the spring, in accordance with the Each day Advertiser. Bossier Metropolis is within the northwestern nook of the state, throughout the Pink River from Shreveport. Different properties within the space additionally laid off staff.

Within the southern a part of the state, L’Auberge On line casino Resort in storm-weary Lake Charles laid off 441 staff. The Isle of Capri in Lake Charles is predicted to furlough 336 staff on Feb. 1.

Two horse tracks in that area went by means of job losses final 12 months. Delta Downs Racetrack On line casino and Lodge in Vinton laid off 354 staff. Vinton is west of Lake Charles, close to the Texas border. 
To the east of Lake Charles in Opelousas, Evangeline Downs Racetrack On line casino laid off 246 staff in 2020.
Resorts all through the state, together with the New Orleans and Baton Rouge areas, additionally reduce on staffing ranges. In Baton Rouge, L’Auberge On line casino laid off 162 staff.
Sports activities Betting’s Subsequent Step
Whereas the present gaming business struggled in 2020, voters in Louisiana opened the door to new avenues of income by approving sports activities betting within the state.
In 55 of Louisiana’s 64 parishes, voters in November agreed to permit sports activities wagering inside the borders of their parish. The poll merchandise handed overwhelmingly within the parishes the place giant cities, together with  New Orleans and Baton Rouge, are situated.
When the state Legislature meets in April, lawmakers should determine whether or not to permit gamblers to put sports activities bets on cell gadgets or solely in-person at a sportsbook inside a on line casino. 
With this and different points nonetheless to be resolved, authorized sports activities betting will not be anticipated to be up and working in Louisiana till 2022.

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