NEW ORLEANS (AP) – With the economy showing signs of slow improvement, Louisiana’s state-licensed casinos in March continued to pick up their recent winning pace.
State police said Thursday that the 12 riverboat casinos, Harrah’s downtown New Orleans casino and the four race-track casinos took in $227.9 million. That’s a 5.8-percent gain from $215.4 million won in March 2011 and follows an 8.7-percent increase recorded in February compared with February 2011.
“Most jurisdictions would be happy with a 5.8-percent growth, especially at a time when people aren’t feeling good about their finances,” said Joe Weinert, a casino analyst with Spectrum Gaming Group in Linwood, N.J.
The riverboats won $154.1 million, Harrah’s took in $35.8 million and the track casinos won $38 million last month. All of the state’s casino markets recorded year-to-year gains.
In February, the casinos won $217.2 million with an early Mardi Gras season and an extra day because of the leap year. March is typically one of the big months for the casino business as income tax refund checks are issued. Analysts also say wagering has benefited at least somewhat from the slowly improving economy.
But more outlets will be competing for the wagering dollars in the future. Three additional riverboat casinos are in the works for Lake Charles, Baton Rouge and Shreveport-Bossier City.
Weinert said it’s difficult to predict how much additional wagering the new outlets will attract and how much will be taken from the existing casinos.
“It varies market by market, property by property,” Weinert said. “There will be some cannibalization, and some expansion of the market, but there’s no tried and true predictor.”
Competition is skewing the national picture.
In March, Pennsylvania slot machines won $233.1 million – an all-time high since casinos went into the state in 2006. In neighboring New Jersey, which has struggled since casinos came to Pennsylvania, the take at Atlantic City was down 5.5 percent last month as compared with March 2011. But Nevada saw a 5.7 percent increase in the February-to-February comparison, a gain that state regulators said was across the board for most casinos.
Mississippi has been dealing with competition from Florida Indian reservation casinos and the recent addition of slot machines at two Arkansas race tracks. The February-to-February take rose 2.6 percent in Mississippi – only the second time in a year that the state’s 30 casinos have shown a gain.
Among Louisiana’s casino markets:
– In Shreveport-Bossier City, the area’s five riverboats and the Louisiana Downs track casino won $67.9 million, up a tad from $66.8 million in March 2011. That market taps into Texas for players – and competes with Indian nation casinos in Oklahoma for the attention of gamblers.
– The Lake Charles market, which has two riverboats and the Delta Downs track casino, saw a big gain last month, as players left behind $63.4 million in March, up from $56 million a year ago. L’Auberge Lake Charles was the biggest winner among the state’s riverboats, taking in $31.7 million.
– In the New Orleans market, which has two riverboats and the Fair Grounds casino in addition to the downtown casino, players lost $63.1 million last month, up from $61.5 million in March 2011. That market got its Mardi Gras boost in February, but last month hosted the NCAA Final Four basketball championships.
– In Baton Rouge, the two riverboats won $19.4 million last month, up from $17.9 million in March 2011.
– The lone riverboat in the Morgan City area won $4.9 million in March, up from $4.6 million a year ago.
– The Evangeline Downs track casino took in $9.1 million last month, an increase from $8.5 million in March 2011.
The figures do not include Indian reservation casinos in Louisiana, which are not required to report their winnings to the public.
 
____
Contact The Daily Reveille’s news staff at [email protected]