• Sat. Jul 24th, 2021

New Orleans On line casino Winnings Sink As COVID-19 Slows Tourism


Jan 23, 2021

Posted on: January 22, 2021, 02:46h. 
Final up to date on: January 22, 2021, 03:16h.

Larry Henry Learn Extra

The New Orleans gaming market closed out 2020 with a steep drop in income. The tourism-dependent Crescent Metropolis was hit exhausting final 12 months by the coronavirus pandemic.

A laid-off Louisiana on line casino employee, left, talks with a tv reporter about her job loss. The pandemic and extreme climate had a damaging impression on gaming income within the Bayou State. (Picture: WAFB-TV)

Within the New Orleans space, the mixed gaming income in December was $35.9 million. That’s 31 p.c under the earlier December’s $52 million, in keeping with the New Orleans Advocate. No different gaming market within the state had a decline that steep.
The Crescent Metropolis is house to the state’s solely land-based on line casino, Harrah’s New Orleans. Harrah’s skilled a 37.5 p.c drop in winnings, from $26.4 million to $16.5 million. Harrah’s was “exhausting hit by the lack of tourism in New Orleans brought on by the pandemic,” the newspaper reported. 

The resort is planning a multimillion greenback undertaking to constructed a lodge tower and make different enhancements. The property additionally goes to be renamed.

The three riverboat casinos within the New Orleans space noticed a mixed droop of twenty-two.6 p.c in income final month in comparison with December 2019. The Treasure Chest On line casino in suburban New Orleans alone posted a 28 p.c decline. It went from $8.6 million to $6.2 million.
Hurricanes Pummel Lake Charles 
After closing in March due to COVID-10 issues, Louisiana casinos reopened in Could with a 50 capability restrict. Along with this, the state’s harmful hurricane season had a lingering financial impression in some areas.
A file 5 named storms clobbered Louisiana in the summertime and fall earlier than the Atlantic hurricane season formally led to November. Some locations alongside the state’s Gulf Coast have been nonetheless rebuilding late final 12 months.  
The Lake Charles space in southwestern Louisiana skilled a catastrophic storm season. Two lethal hurricanes shredded the area solely six weeks aside, damaging casinos, houses, and companies. The ensuing hardships, mixed with COVID-19 issues, had an impression on the world’s economic system.
Mixed, the casinos within the Lake Charles space noticed a 23.1 p.c income drop in December to $59.4 million. 

Hurricane injury compelled the Isle of Capri riverboat on line casino in Lake Charles to shut. Based on media accounts, it won’t reopen till 2022. On Feb. 1, the Isle of Capri is anticipated to furlough 336 employees.

Final 12 months in Louisiana, not less than 4,790 on line casino workers have been laid off statewide, together with within the New Orleans and Baton Rouge markets.
Baton Rouge Sees Success
A few of the December income outcomes weren’t as bleak as New Orleans skilled.
L’Auberge On line casino Resort in Baton Rouge took in $12.4 million final month, a 1.2 p.c improve over the identical month in 2019. It was the one on line casino within the state to publish a rise in income in December. Baton Rouge is the state’s capital metropolis.
General, the three Baton Rouge riverboat casinos posted $17.2 million in winnings in December. These properties introduced in $18.4 million in December 2019. This 6.7 p.c droop made Baton Rouge the top-performing on line casino market within the state, the Advocate reported.
Additionally, video poker machines in truck stops posted constructive outcomes, up 11.9 p.c in December 2020, in comparison with the identical month one 12 months earlier than that. Truck stops have the state’s largest variety of video poker machines.

Associated Information Articles