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Louisiana Casino Revenue Drops in August; Sports betting handle increases

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Bayou state gambling numbers fell across the board in August compared to Louisiana’s July revenue report, but the sportsbook handle provided good news for sportsbooks in the state.

For Louisiana casinos, all four segments reported by the Louisiana Gaming Control Board declined month-on-month.

Overall, August combined revenue of $243,623,862 was down 10.1% from the $270,908,107 reported in July.

The August numbers were an improvement from the same time last year. In August 2021, Louisiana accumulated $214,822,754 in casino revenue; last month’s figure was 13.4% higher.

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There are no online gambling sites in Louisiana.

Casino collapse in Louisiana in August

According to the LGCB website, riverboat casinos generated $134.7 million in revenue in August, down 11.5% from July’s $152.2 million. Riverboat casinos are the most popular form of gambling in Louisiana, at least from a personal point of view.

Video game terminals fell the least in August, totaling $64.2 million, down 3.8% from July’s $66.74 million. The steepest decline belonged to the lonely land-based casino in Harrah’s New Orleans. That facility rose to $19.34 million in August from $22.63 million in July, down 14.5%.

Racinos, or slot machines, at four racetracks statewide fell 13.4% to nearly $25.4 million from $29.3 million in July.

The total raised for August was the lowest in 2022 and the smallest amount since the state raised $214.8 million in Louisiana revenue in September 2021.

Sports Betting in Louisiana, August vs. July

Month total grip Mobile handle revenue
August $128.252 million $112.051M $9.460M
July $118.329 million $103.342M $20.598 million
change 8.2% increase 8.4% increase down 54.6%

Louisiana Sports Betting Handle increases

Results for sports betting in Louisiana have been mixed for the last month.

The amount or stake amount for sporting events in August was $128,251,857, up 8.2% from July (more than $118 million).

As has been the case since Louisiana introduced sports betting in late 2021, mobile betting has dominated. Mobile sports betting amount was $112.05 million in August, up 8.4% from $103.3 million in July. These online bets accounted for 87.4% of the state total.

Retail sports betting trade was $16.2 million in August, or 6.7% up from $15.18 million in July.

The news was not so good on the revenue side, mirroring the results of other forms of casino gaming. Sports betting revenue fell 54.6% from $20.85 million in July to $9.46 million in August. Sports betting taxes for state coffers fell 27.5% to $1.77 million in August from $2.45 million in the previous month.

Louisiana news is sure to get better next month, at least for sports betting. The New Orleans Saints started their season in September and the state’s other favorite football team, the LSU Tigers, also began college football betting and already had their SEC portion of the schedule with Saturday’s 31-16 win over Mississippi State.

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