Louisiana casino revenue drops 23% in February, hit by restrictions and winter storm

Louisiana's casinos, racetrack slot machines and video gaming devices recorded around $204.7 million in February, a decrease of 23.4% from February 2020.

Through the first two months in 2021, Louisiana's gaming establishments have reported revenue of $440.5 million, according to data from the Louisiana Gaming Control Board. Revenue is down around 14.5% from the first two months in 2020, when the venues racked up $515.4 million. 

Under Gov. John Bel Edwards' COVID-19 restrictions, casinos have been limited to 50% capacity during the new year. Like many businesses, casinos were closed from late March to mid-May in 2020 under the governor's stay-at-home order. January and February were the only months in 2020 relatively unaffected by COVID-19.

In 2020, the casinos and other gaming establishments lost around $877.2 million in revenue from the previous year. Over the course of the year, at least 4,790 employees were laid off from casinos, according to Wage Adjustment and Retraining Notification (WARN) Act information from the Louisiana Workforce Commission. In addition, at least one casino — DiamondJacks Casino in Bossier City— permanently closed due to COVID-19's economic impacts. So far in 2021, no WARN notices have been filed for Louisiana's casinos, Lafayette Daily Advertiser reports.

February's drop is probably a result of COVID-19, the winter storm in the middle of the month that likely limited turnout in some areas, and that the month had only four weekends compared to five in January 2021 and February 2020.

In February, every operating river-adjacent Louisiana casino took in less money last month than the month before and during the same month last year. Revenue from riverboat casinos — which are concentrated around New Orleans, Baton Rouge, Lake Charles and Shreveport — totaled $112.4 million in February, a drop of about $43.1 million, or 27.7%, from February 2020. The state's lone non-tribal, land-based casino, Harrah's in New Orleans, recorded $15.8 million in February, down $10.8 million, or 40.7%, from February 2020.

Revenue from slot machines at the state's four racetracks — located around New Orleans, Shreveport, Lake Charles and Opelousas — recorded $22.9 million in revenue in February, a decrease of $7.4 million, or 24.5%, from February 2020.

Video poker devices totaled $53.6 million in revenue in February, down $1.3 million, or 2.4%, from February 2020. On the year, video poker devices have actually seen revenue increase from the first two months in 2020. So far in 2021, the devices have totaled around $114.9 million — an increase of about $7.9 million, or 7.3%, from the first two months of 2020.

The Louisiana Gaming Control Board keeps track of gaming revenue for the state's racetrack slot machines, video poker machines, riverboat casinos and its lone land-based casino. Some establishments, such as tribal casinos, are not included in the reports.