Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Gaming Revenue topic
No spam. Unsubscribe anytime.
Gaming board: modest statewide revenue gains in November; Caesars posts strong month
Summary
The Louisiana Gaming Control Board heard November revenue reports showing modest year-to-date gains across riverboats, racetrack slots and video gaming; Caesars New Orleans had a particularly strong month. The board had no questions and took no further action on revenues.
The Louisiana Gaming Control Board on Dec. 19 received November revenue figures showing modest year-to-date gains across most sectors and a standout month for Caesars New Orleans.
Donna Jackson of the Louisiana State Police Gaming Audit section told the board that the 14 operating riverboats generated $151,791,856 in adjusted gross receipts for November and that the state collected $32,635,249 in fees for the month. She said fiscal year-to-date adjusted gross receipts through Nov. 30 stand at about $701,000,000, up roughly $5.7 million, or 1 percent, from the prior fiscal year.
"In November, the 14 operating riverboats generated adjusted gross receipts of $151,791,856," Jackson said.
Jackson highlighted that Caesars New Orleans produced $26,705,464 in gross gaming revenue in November, a gain of $4.5 million (20.4 percent) from October and $5.9 million (28.5 percent) from the same month last year; minimum daily payments to the state from Caesars totaled $5,342,466 for November, and Caesars' fiscal-year-to-date AGR is roughly $101.6 million, about 5 percent higher than the prior fiscal year.
Jackson also reported the four racetrack slot facilities combined for $26,501,828 in November adjusted gross receipts (an increase of about $2.3 million, or 9.5 percent, from the previous month) and that net device revenue from video gaming devices totaled $62,748,981 for November (a small 0.7 percent decline from October but a roughly 4.2 percent increase from last November). She said there are 11,888 active video-gaming devices at 1,388 locations and that year-to-date net device revenue is $305,500,000.
On sports wagering, Jackson said retail sportsbooks accepted approximately $32.6 million in wagers in November (net proceeds about $4.2 million; taxes roughly $356,000), while mobile sportsbooks handled about $380.8 million in wagers (net proceeds about $52.0 million; taxes about $7.8 million). Daily fantasy sports gross revenue for November exceeded $1.7 million.
Board members asked no questions about the revenue presentation, and Jackson concluded her remarks. The board did not take further action on the revenue reports.
The board's next agenda items addressed licensing and vessel matters; no additional action on revenues was scheduled.
