A dark cloud with a silver lining for some

GAMBLING TREND RISES IN LOUISIANA

Three of its fifteen riverboat casinos may not be operating but Louisiana saw gambling revenue rise to US$213.9 million in April, up from US$189.4 million in April 2005. Last year’s hurricane season may have devastated much of the Gulf Coast region but the influx of out-of-state workers to repair the damage has provided operational casinos with additional revenue both in Louisiana and Mississippi’s reopened facilities.

Pinnacle Entertainment’s casino resort in Lake Charles, L’Auberge Du Lac, opened a year ago and has proved a favourite for players. Last month it made US$26.9 million, which was highest among the riverboats although second to Harrah’s New Orleans operation at US$31.2 million, the only land-based casino in the state. In March this year Harrah’s New Orleans hit a record win of US$33.7 million. Louisiana’s three racinos also made more last month than in April 2005.

The state’s tax revenue for 2005 was up 18.6% on 2004 figures and consumer spending was up by 3.2%. Commercial casino gaming in every US state but Mississippi saw consumer spending increases last year. Mississippi, adversely affected by Hurricanes Katrina and Rita, saw spending decline by 11.3%. Louisiana’s Shreveport, New Orleans and Lake Charles casino markets figure in the US top twenty; 10th, 16th and 18th respectively. Measuring the market in the millions rather than Nevada’s or New Jersey’s billions, Louisiana still makes over US$5.3 million in annual gaming tax revenue. (E-05.17.06)

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