The Louisiana Gaming Control Board, the regulator in charge of overseeing sports betting and gambling in the state, has announced the sector’s financial results for the month of July 2023 and the numbers show a healthy increase in sports wagers.
Going Mobile
Sports wagers in Louisiana amounted to 134.8 million dollars in July, a figure which represents an increase of 14 percent compared to the same month of the previous year.
The best-performing sector was mobile sports betting, which attracted 122.5 million dollars in wagers during the month of July. That total represents an increase of 18.6 percent year-on-year. Baseball was the most popular sport for mobile bettors in Louisiana in July, it managed to attract wagers amounting to a total of 2.7 million dollars.
Retail sportsbooks in the state did not perform so well, in fact, they recorded a significant decline in July. The total wagers at retail locations was 19.4 percent lower compared to the financial results of July 2022, amounting to just 12.2 million dollars. In the case of retail sportsbooks most punters chose to play parlay bets, which attracted over 1.2 million dollars in wagers.
Casinos Register Downward Trend
Casino revenue in the state of Louisiana was not that great in the month of July, it registered a decrease both when compared to July 2022 and with June 2023. Harrah’s New Orleans Casino, the land-based venue which is owned and operated by Caesars Entertainment, reported gross gaming revenue of 17.5 million dollars in July 2023, 11.9 percent lower than the previous month and 22.8 less than what it recorded in July 2022.
Riverboat casinos in the state managed to bring in a total of 146.6 million dollars in adjusted gross revenue during the month of July. That was a good result considering that two riverboat casinos, one in Lake Charles and another in Bossier City, are currently closed.
Slot games located at the state’s racetracks reported slight increases in activity during July compared last month and last year. The Evangeline Downs racetrack registered the largest increase, with adjusted gross revenue going up by 7.3 percent to almost 6.5 million dollars.
Delta Downs was the best-performing racetrack in July when it comes to adjusted gross revenue, with a total amount of over 14.2 million dollars. Overall, total revenue from slot machines in Louisiana amounted to 27.6 million dollars, while the four racetracks in the state paid a total of 4.2 million in state tax.
Source: “Louisiana mobile sports betting wagers rise 18.6% year-over-year for July“. Gaming America. August 22, 2023.