Discover Yahoo! With Your Friends

Explore news, videos, and much more based on what your friends are reading and watching. Publish your own activity and retain full control.

To get started, first

YOUR FRIENDS' ACTIVITY

    2011 a flat year for casino revenue in Louisiana

    By ALAN SAYRE | Associated Press – Fri, Jan 20, 2012

    NEW ORLEANS (AP) — Despite a slow economic recovery pinching consumers' wallets, gamblers were just as fond of Louisiana casinos in 2011 as in 2010 — at least gauged by how much money they left behind.

    According to state figures, Louisiana's state-licensed casinos took in $2.37 billion last year — virtually flat from 2010.

    December's tally totaled $201.9 million — down 1.2 percent from $204.3 million in December 2010.

    Last month, the 13 riverboat casinos in December won $138.6 million. Harrah's downtown New Orleans casino took in $32.1 million and the four race track casinos won $31.2 million, state police reported Thursday.

    The casino recovery from the Great Recession has been a shaky one for the casino business. While more casinos have popped to offer more competition, tourist and convention destinations such as Nevada have been hit by cutbacks in business and pleasure travel.

    Nationwide, revenue figures still show a mixed picture.

    Year-to-year figures aren't in yet for Mississippi casinos, though that state had its worst month in November in almost 11 years. Nevada saw a 7 percent jump in November-to-November revenue, while New Jersey broke a 3 1/2-year losing streak in December with a 4.2 percent revenue increase from December 2010. Still, New Jersey revenue in 2011 fell 6.9 percent from 2010.

    Overall, Louisiana casinos have weathered the economic downturn well — and about $1 billion is committed to new casino projects in the state amid new competition for wagering dollars, said Dane Morgan, chairman of the Louisiana Gaming Control Board.

    Among the state's casino markets:

    — In Shreveport-Bossier City, which is heavily dependent on Texas gamblers, players left behind $61.1 million last month at five riverboats and the Louisiana Downs track casino, down from $63.1 million in 2010. In addition to competition from Indian casinos in Oklahoma, the area also has new competitors for the Arkansas wagering dollar with casinos at Oaklawn Park in Hot Springs, Ark., and the Southland Greyhound Park in West Memphis, Ark.

    In addition, a sixth riverboat casino is in the works for the market.

    — In Lake Charles, which attracts Texas gamblers, three riverboats and the Delta Downs race track won $58.5 million in December, up from $56.7 million in December 2010.

    Lake Charles had the riverboat with the biggest winnings — L'Auberge, with $32.2 million — and the boat with the lowest total — $940,611 at the Isle of Capri. Isle of Capri Casinos Inc. has sold the license for that boat to the new Shreveport-Bossier city development. The company also owns another riverboat in Lake Charles.

    At the same time, construction will begin soon on the $400 million Mojito Pointe riverboat casino-resort complex in Lake Charles.

    Recent revenue figures support the idea that the area can support another riverboat resort, Morgan said.

    — In the New Orleans market, which has the downtown casino, two riverboats and the Fair Grounds track casino, players lost $55.3 million last month, down a bit from $56.8 million in December 2010.

    Morgan said he expected the New Orleans market to enjoy a strong January-through-March period due to the recent Sugar Bowl and BCS championship football game in earlier this month, the Mardi Gras season in February and the men's Final Four college basketball matchups in March.

    — The two riverboats in Baton Rouge won $15.1 million in December, down from $15.9 million the previous December. Pinnacle Entertainment Inc. is developing a $357 million riverboat-hotel to compete with the existing two boats.

    — The Evangeline Downs track casino at Opelousas won just a shade less than $8 million last month, up from $7.7 million in December 2010.

    — The lone riverboat in the Morgan City area took in $3.8 million last month, a drop from $4 million from December 2010.

    In November, state-licensed casinos won $175.3 million, down 2.9 percent from November 2010.

    The figures do not include Indian reservation casinos, which are not required to report winnings to the public.

     

    There are no comments yet

    [ [ [['A picture is worth a thousand words', 5]], 'http://news.yahoo.com/why-facebook-bought-instagram-4-theories-160400376.html', '[Related: Why Facebook bought Instagram: 4 theories]', ' ', '630', ' ', ' ', ], [ [['He was in shock and still strapped to his seat', 9]], 'http://contributor.yahoo.com/join/yahoonews_virginiabeach', '[Did you witness the jet crash? Share your story with Yahoo! News]', ' ', '630', ' ', ' ', ], [ [['A JetBlue flight from New York to Las Vegas', 3]], 'http://yhoo.it/GV9zpj', '[Related: View photos of the JetBlue plane in Amarillo]', ' ', '630', ' ', ' ', ], [ [['Dick Clark', 11]], 'http://news.yahoo.com/photos/dick-clark-dies-at-82-slideshow/', 'Click image to see more photos', 'http://l.yimg.com/a/p/us/news/editorial/c/21/c217c61aa2d5872244c08caa13c16ec5.jpeg', '500', ' ', 'Reuters', ], [ [['the 28-year-old neighborhood watchman who shot and killed', 15]], 'http://news.yahoo.com/photos/white-house-stays-out-of-teen-s-killing-slideshow/', 'Click image to see more photos', 'http://l.yimg.com/cv/ip/ap/default/120411/martinzimmermen.jpg', '630', ' ', 'AP', ], [ [['Titanic', 7]], 'http://news.yahoo.com/titanic-anniversary/', ' ', 'http://l.yimg.com/a/p/us/news/editorial/b/4e/b4e5ad9f00b5dfeeec2226d53e173569.jpeg', '550', ' ', ' ', ], [ [['He was in shock and still strapped to his seat', 6]], 'http://news.yahoo.com/photos/navy-jet-crashes-in-virginia-slideshow/', 'Click image to see more photos', 'http://l.yimg.com/cv/ip/ap/default/120406/jet_ap.jpg', '630', ' ', 'AP', ], [ [['xxxxxxxxxxxx', 11]], 'http://news.yahoo.com/photos/russian-grannies-win-bid-to-sing-at-eurovision-1331223625-slideshow/', 'Click image to see more photos', 'http://l.yimg.com/a/p/us/news/editorial/1/56/156d92f2760dcd3e75bcd649a8b85fcf.jpeg', '500', ' ', 'AP', ] ]
    [ [ [[' the 28-year-old neighborhood watchman who shot and killed', 4]], '28924649', '0' ], [ [['because I know God protects me', 14], ['Brian Snow was at a nearby credit union', 5]], '28811216', '0' ], [ [['The state news agency RIA-Novosti quoted Rosaviatsiya', 6]], '28805461', '0' ], [ [['measure all but certain to fail in the face of bipartisan', 4]], '28771014', '0' ], [ [['matter what you do in this case', 5]], '28759848', '0' ], [ [['presume laws are constitutional', 7]], '28747556', '0' ], [ [['has destroyed 15 to 25 houses', 7]], '28744868', '0' ], [ [['short answer is yes', 7]], '28746030', '0' ], [ [['opportunity to tell the real story', 7]], '28731764', '0' ], [ [['entirely respectable way to put off the searing constitutional controversy', 7]], '28723797', '0' ], [ [['point of my campaign is that big ideas matter', 9]], '28712293', '0' ], [ [['As the standoff dragged into a second day', 7]], '28687424', '0' ], [ [['French police stepped up the search', 17]], '28667224', '0' ], [ [['Seeking to elevate his candidacy back to a general', 8]], '28660934', '0' ], [ [['The tragic story of Trayvon Martin', 4]], '28647343', '0' ], [ [['Karzai will get a chance soon to express', 8]], '28630306', '0' ], [ [['powerful storms stretching', 8]], '28493546', '0' ], [ [['basic norm that death is private', 6]], '28413590', '0' ], [ [['songwriter also saw a surge in sales for her debut album', 6]], '28413590', '1', 'Watch music videos from Whitney Houston ', 'on Yahoo! Music', 'http://music.yahoo.com' ], [ [['keyword', 99999999999999999999999]], 'videoID', '1', 'overwrite-pre-description', 'overwrite-link-string', 'overwrite-link-url' ] ]

    News For You

    Episode 11: Hard times for Hometown Hardware
    Should Bill and Donna call a hail marry pass to boost their business? Join the conversation.
    Episode 10: Mother's Day Tribute
    Remake America celebrates moms everywhere.
    Episode 9: A prosthetic for Kyle?
    Wounded veteran Kyle lost his hand during an explosion in Iraq.
    Learn more about Remake America »

    Business News »

    • Monitors show value of Facebook, Inc. stock before closing bell at NASDAQ Marketsite in New York
      Facebook sinks on first day without underwriter support Chuck Mikolajczak and John McCrank

      (Reuters) - Facebook stock sank on Monday in the first day of trading without the full support of the company's underwriters, leaving some investors down nearly 25 percent from where they were Friday afternoon. … More »Facebook sinks on first day without underwriter support

      Monitors show value of Facebook, Inc. stock before closing bell at NASDAQ Marketsite in New York

      (Reuters) - Facebook stock sank on Monday in the first day of trading without the full support of the company's underwriters, leaving some investors down nearly 25 percent from where they were Friday afternoon. Facebook's debut was beset by problems, so much so that Nasdaq said on Monday it was changing its IPO procedures. …

    • Gerry Lopez, CEO of AMC Entertainment Holdings, left, shakes hands with Zhang Lin, Vice President of Wanda during a signing ceremony for Dalian Wanda Group Co. to acquire AMC Entertainment Holdings in Beijing, China, Monday, May 21, 2012. The Chinese conglomerate announced Monday it will buy major U.S. cinema chain, AMC Entertainment Holdings, for $2.6 billion to create the world's biggest movie theater operator. (AP Photo/Ng Han Guan)
      Chinese company to buy US movie theater chain AMC JOE McDONALD

      A Chinese conglomerate announced Monday it will buy a major U.S. cinema chain, AMC Entertainment Holdings, for $2.6 billion in China's biggest takeover of an American company to date. More »Chinese company to buy US movie theater chain AMC

      Gerry Lopez, CEO of AMC Entertainment Holdings, left, shakes hands with Zhang Lin, Vice President of Wanda during a signing ceremony for Dalian Wanda Group Co. to acquire AMC Entertainment Holdings in Beijing, China, Monday, May 21, 2012. The Chinese conglomerate announced Monday it will buy major U.S. cinema chain, AMC Entertainment Holdings, for $2.6 billion to create the world's biggest movie theater operator. (AP Photo/Ng Han Guan)

      A Chinese conglomerate announced Monday it will buy a major U.S. cinema chain, AMC Entertainment Holdings, for $2.6 billion in China's biggest takeover of an American company to date.

    • Employees play table tennis inside the headquarters office of Alibaba (China) Technology Co. Ltd on the outskirts of Hangzhou
      Alibaba buys back 20 percent stake held by Yahoo for $7.1 billion Melanie Lee and Soyoung Kim

      SHANGHAI/NEW YORK (Reuters) - Chinese Internet entrepreneur Jack Ma is buying back up to half of a 40 percent stake in his Alibaba Group from Yahoo Inc for $7.1 billion, in a deal that moves the Chinese … More »Alibaba buys back 20 percent stake held by Yahoo for $7.1 billion

      Employees play table tennis inside the headquarters office of Alibaba (China) Technology Co. Ltd on the outskirts of Hangzhou

      SHANGHAI/NEW YORK (Reuters) - Chinese Internet entrepreneur Jack Ma is buying back up to half of a 40 percent stake in his Alibaba Group from Yahoo Inc for $7.1 billion, in a deal that moves the Chinese e-commerce leader closer to a public listing. Under the agreement, Yahoo will sell half its stake in Alibaba for at least …

    • FILE - This file photo of a film image released by Disney shows Iron Man, portrayed by Robert Downey Jr., left, and Captain America, portrayed by Chris Evans, in a scene from "The Avengers." Disney/Marvel's "The Avengers" should top domestic box office for a third straight weekend, fending off wide-release newcomers with another $50 million in receipts. (AP Photo/Disney, File)
      'Avengers' sinks 'Battleship" to remain No. 1 DAVID GERMAIN

      "The Avengers" continues to muscle out everything else Hollywood throws at it, easily sinking naval rival "Battleship" and other new releases. More »'Avengers' sinks 'Battleship" to remain No. 1

      FILE - This file photo of a film image released by Disney shows Iron Man, portrayed by Robert Downey Jr., left, and Captain America, portrayed by Chris Evans, in a scene from "The Avengers." Disney/Marvel's "The Avengers" should top domestic box office for a third straight weekend, fending off wide-release newcomers with another $50 million in receipts. (AP Photo/Disney, File)

      "The Avengers" continues to muscle out everything else Hollywood throws at it, easily sinking naval rival "Battleship" and other new releases.

    • FILE - Montana Attorney General Steve Bullock is seen at an event in which he announced the start of his 2012 gubernatorial campaign on in this Sept. 7, 2011 file photo taken in Billings, Mont. Twenty-two states and the District of Columbia are backing Montana in its fight to prevent the U.S. Supreme Court's 2010 Citizens United decision from being used to strike down state laws restricting corporate campaign spending. Bullock argues that political corruption in the Copper King era led to the state ban on corporate campaign spending. A clarification of Citizens United is needed to make clear that states can block certain political spending in the interest of limiting corruption, he said. On Friday, May 18, 2012 Montana's case was given a boost when U.S. Sens. John McCain, R-Ariz., and Sheldon Whitehouse, D-D-R.I., signed on in support. (AP Photo/Matthew Brown, File)
      APNewsBreak: 22 states join campaign finance fight MATT GOURAS

      Twenty-two states and the District of Columbia are backing Montana in its fight to prevent the U.S. Supreme Court's 2010 Citizens United decision from being used to strike down state laws restricting … More »APNewsBreak: 22 states join campaign finance fight

      FILE - Montana Attorney General Steve Bullock is seen at an event in which he announced the start of his 2012 gubernatorial campaign on in this Sept. 7, 2011 file photo taken in Billings, Mont. Twenty-two states and the District of Columbia are backing Montana in its fight to prevent the U.S. Supreme Court's 2010 Citizens United decision from being used to strike down state laws restricting corporate campaign spending. Bullock argues that political corruption in the Copper King era led to the state ban on corporate campaign spending. A clarification of Citizens United is needed to make clear that states can block certain political spending in the interest of limiting corruption, he said. On Friday, May 18, 2012 Montana's case was given a boost when U.S. Sens. John McCain, R-Ariz., and Sheldon Whitehouse, D-D-R.I., signed on in support. (AP Photo/Matthew Brown, File)

      Twenty-two states and the District of Columbia are backing Montana in its fight to prevent the U.S. Supreme Court's 2010 Citizens United decision from being used to strike down state laws restricting corporate campaign spending.

     
    Brought to you byYahoo! Finance
    Loading...