Concerns are afoot at the Louisiana Gaming Control Board as the May numbers are in and they are not showing promise.
“No doubt country-wide, this inflation is having an impact on the casino gaming industry,” Louisiana Gaming Control Board Chairman Ronnie Johns.
Casino numbers are down at casinos, racinos, and mobile sports betting. Statewide, gaming facilities reported a 9.2% drop in winnings. $21-million less than the same time last year.
“There’s no doubt that the price of gasoline, inflation, inflationary cost of everything,” Johns says. “We’re watching those numbers very closely, we’re concerned about it.”
The drop in action at the state’s resort casinos is a point of major concern for Johns.
“Hospitality numbers are being affected also, hotel rooms, food and beverage, the golf courses, all of those things are being affected,” Johns explains.
Rising prices for gas, food, and just about everything are draining discretionary income. That means people are not spending money on things like gaming, casinos or betting. Johns says things are tough all over.
“Every other state is going through the same thing,” he says. “I talked with regulators in Mississippi, Pennsylvania, New Jersey, those states are experiencing the same.”
Still, there is a silver lining: Sports wagering.
“The good news is that we did bring in sports betting and when you look at the total numbers of dollars coming into the state budget, it appears sports wagering is going to offset some of this loss from the casino side.”
According to published reports only the L’Auberge Casino Resort in Lake Charles and Boomtown Bossier City Casino saw gains year-over-over. That’s due to these particular properties drawing customers from nearby Houston and Dallas. Still they have posted noticeable dips in hospitality revenue according to Johns.
