Louisiana experienced another bad month to end 2009 when it came to their revenue. Earnings were down almost sixteen percent in December at state casinos.
>Casinos in the state of Louisiana experienced another poor month to finish off the 2009 campaign. Casino revenue was down almost sixteen percent at state casinos for the month of December.
Actual revenue for the eighteen casinos in Louisiana was $192.4 million for the month of December. That was down from the $222.8 million that the casinos brought in back in December of 2008. The decline in revenue represented a 15.8% decrease.
While the decline in year over year numbers was declining, there was some good news for the casinos. Compared to November, the December revenue was up 7.5%, from $179 million. It is a trend that many casinos around the US have experienced.
The economic recession, which was at its worst back in late 2008, has made most casinos have declines in revenue throughout 2009 from the previous year. Towards the end of the year, however, the casinos again started to increase their revenue figures, just not to the point of the previous year.
Analysts believe that the industry will not be fully recovered from the recession until sometime in 2011. This year, casinos will try to weather the storm, with casinos in several states having to close their doors in 2009.
The land-based casino in Louisiana did not have it as bad as the riverboat casinos in December. Land casinos had revenue of just under $31 million, compared to $34.9 million in December of 2008.
Source: Casinogamblingweb.com - News added: 2010-01-20 at: 00:00:02
