• Mon. Jun 21st, 2021

Income Droop, Layoffs Mark Troublesome Yr for Louisiana Gaming Business

ByBet-Now

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 trade misplaced practically a billion {dollars} in 2020 in comparison with the earlier yr. The trade additionally shed hundreds of jobs.

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

By November 2020, gaming income was down greater than $830 million statewide in comparison with the identical interval the earlier yr, in keeping with the Each day Advertiser newspaper in Lafayette. At the very least 4,790 workers have been laid off.
If the identical pandemic-related hunch continued into December, the trade will probably 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. Total, Harrah’s was down $137.2 million.

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

Hardest-hit have been the resorts in Lake Charles within the southwestern a part of the state. Two lethal hurricanes clobbered this space final yr solely six weeks aside. With COVID-19 restrictions and harm 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 yr earlier. 
Video gaming machines in eating places, racetracks, truck stops, and different places misplaced $76.5 million by November 2020. It is a 13.2 p.c drop from the earlier yr.
Hundreds Out of Work
The job-loss totals even have been gloomy.
On the Horseshoe in Bossier Metropolis, 978 workers have been laid off within the spring, in keeping 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 employees.

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

Two horse tracks in that area went by job losses final yr. Delta Downs Racetrack On line casino and Resort in Vinton laid off 354 employees. 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 workers 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 employees.
Sports activities betting’s Subsequent Step
Whereas the prevailing gaming trade 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 throughout the borders of their parish. The poll merchandise handed overwhelmingly within the parishes the place massive cities, together with  New Orleans and Baton Rouge, are positioned.
When the state Legislature meets in April, lawmakers should determine whether or not to permit gamblers to put sports activities bets on cellular 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 isn’t anticipated to be up and operating in Louisiana till 2022.

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