Boyd Gaming (NYSE:BYD) and MGM Resorts International (NYSE:MGM) are new additions to JPMorgan’s monthly list…
Posted on: August 23, 2021, 02:46h.
Final up to date on: August 23, 2021, 02:56h.
Larry Henry Learn Extra
Louisiana’s casinos received 25 p.c extra this July than one yr earlier, which was through the coronavirus pandemic’s first summer time surge.
A Harrah’s signal signifies an entrance on the hotel-casino in downtown New Orleans. Harrah’s is the state’s solely land-based on line casino. (Picture: Kate Henry)
This yr in July, the state’s casinos received $222 million, in comparison with $177.6 million in July 2020, in response to the New Orleans web site nola.com. Final yr, on line casino capability was capped at 50 p.c. There are not any capability limits now.
The July on line casino win is barely greater than June’s whole this yr of $221.6 million.
Louisiana is house to 13 riverboat casinos, one land-based on line casino in New Orleans, and 4 racinos — horse tracks with video slot machines.
In New Orleans, the Harrah’s land-based on line casino, three riverboat casinos, and one horse monitor within the space introduced in additional than $55.1 million in gaming income in July. That’s a 46 p.c in improve over the $35.7 million win whole in July 2020. Coronavirus infections had begun to surge a number of months earlier in March 2020.
The most important share improve this July got here on the Eldorado Resort On line casino, a riverboat on the Purple River in Shreveport. The on line casino received $11.3 million in July, a 101.2 p.c improve over final July’s $5.6 million win whole. The riverboat casinos in Shreveport have been within the information lately relating to a on line casino smoking ban that took impact on Aug. 1. Shreveport is within the boot-shaped state’s northwest nook.
The one property that skilled a dip in income in July was the Belle of Baton Rouge. The riverboat on line casino is on the Mississippi close to downtown Baton Rouge in South Louisiana. Its July income of $1.5 million this yr was down 2.3 p.c from final yr’s whole of simply greater than $1.5 million.
Casinos Transfer Ashore
Final yr, in August and into the autumn, a number of lethal hurricanes slammed into Louisiana, damaging houses and companies, together with casinos.
In Lake Charles, the Isle of Capri got here unmoored throughout a significant hurricane and have become wedged within the I-10 bridge. Nobody was injured. The on line casino now’s being remodeled from a riverboat property right into a land-based resort. It’s scheduled to open subsequent yr because the Horseshoe On line casino Lake Charles.
East of there in Baton Rouge, the Hollywood On line casino has turn out to be the primary riverboat within the capital metropolis to start transferring ashore. Development on Hollywood’s land-based website is predicted to be accomplished by the top of subsequent yr.
When riverboat casinos have been first approved in Louisiana through the early Nineties, the boats have been required to journey into open water away from the port. That was modified in 2001 to allow the riverboats to stay docked. In 2018, the regulation was adjusted to permit riverboats to be scrapped in favor of land-based operations.
One other riverboat on line casino, the Treasure Chest at Lake Pontchartrain, additionally is predicted to maneuver its operations onto land. The Treasure Chest is in Kenner, northwest of downtown New Orleans.
Vaccine, Unfavorable Take a look at Required
Because the state skilled greater on line casino win totals in July, a surge in coronavirus instances, coupled with low vaccination charges, pressured adjustments in August for big gatherings in New Orleans.
Mayor LaToya Cantrell this month issued a mandate requiring proof of vaccinations or a current unfavorable COVID-19 check to enter indoor venues. These venues embody the town’s racetrack, land-based on line casino, and Caesars Superdome. Enforcement started on Monday, Aug. 23.
Final month, the New Orleans mayor reinstated the town’s masks mandate, which had been in place for nearly a yr through the coronavirus’ first three waves.
Associated Information Articles