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Louisiana regulators review gaming revenues, approve renamed Baton Rouge casino | Louisiana

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www.thecentersquare.com – By Victor Skinner | contributor – 2023-08-25 16:44:00

(The Center Square) – The Louisiana Gaming Control Board this week reviewed gaming revenues and compliance issues and approved the opening of The Queen Baton Rouge casino.

The Queen opened Thursday following approvals from the board to finalize its transition from the riverboat Hollywood Casino, an $85 million, two-year endeavor.

The city's first land-based casino features more than 100,000 square feet of gaming, dining and entertainment, a DraftKings Sportsbook, and more than 700 gaming machines and 18 gambling tables.

“It's a great day,” board chairman Ronnie Johns said at the Monday meeting, where officials with The Queen offered a presentation ahead of the opening.

The meeting also updates on gaming revenues for July from the Louisiana State Police Gaming Audit Section.

The state's 14 riverboat casinos generated adjusted gross receipts last month of $146.6 million with fees to the state of $31.5 million. The revenues were down $3.2 million from June, or about 1.5%, and were $5.6 million short of July 2022 figures, a decline of 3.7%.

The Harris New Orleans land-based casino generated $17.4 million in gross gaming revenue, down 12% or $2.4 million from June and 22.8% or $5 million from July 2022. For July, the state received $5.5 million in minimum daily payments from the casino.

Slots at four racetracks generated $27.5 million in adjusted gross receipts for July, up 1.3% from June, and down $1.8 million or 6% from July 2022, sending $4.2 million in fees to the state.

gaming on 11,919 devices at 1,394 locations resulted in net device revenue of $61.5 million, down 0.5% from June, or $327,515. The revenues, down 7.8% from last year, resulted in $18.6 million in franchise fees for Louisiana.

Sportsbooks at 18 retail sites generated $12.2 million in wagers, $1.9 million in proceeds, and $174,000 in taxes, while eight mobile sportsbooks accepted $122.5 million in wagers, and collected $15.7 million in proceeds, producing $2 million in taxes.

Daily fantasy sports, meanwhile, took in $512,000 in gross revenues, resulting in $53,000 in net revenue and $4,222 in taxes.

Other reports focused on voluntary employment and procurement conditions for riverboat and racetrack casinos during the second quarter of 2023.

The 15 operating riverboats employed 8,934, including 8,756 Louisiana residents, 5,253 minorities, and 4,811 women, though only one fully complied with the voluntary conditions: Margaritaville Resort Casino.

For racetracks, the 1,353 people employed included 1,085 Louisiana residents, 699 minorities, and 743 women. Two of the tracks achieved total compliance with their quotas: Evangeline Downs Racetrack & Casino and Fairgrounds Race Course & Slots.

“This was the first reporting quarter of our new guidelines,” Johns said. “So we're going to watch these numbers very closely.”

“While they're voluntary, we surely expect them to make a concerted effort at meeting these goals,” he said.

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Louisiana lawmakers move forward with bills intended to curb crime | Louisiana

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www.thecentersquare.com – By Victor Skinner | contributor – 2024-02-21 14:20:00

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Audit finds no consensus on impact of Justice Reinvestment Initiative | Louisiana

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www.thecentersquare.com – By Victor Skinner | contributor – 2024-02-20 15:44:00

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Op-Ed: Louisiana public defender system in need of reform | Opinion

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www.thecentersquare.com – By Daniel J. Erspamer | The Pelican Institute for Public Policy – 2024-02-20 13:17:00

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