25 years after the first riverboat set anchor in Baton Rouge the market is now struggling as revenues are cratering in one of the biggest gaming regions of the state.
Chairman of the Louisiana Gaming Control Board Ronnie Jones says unfortunately today’s milestone is also a reminder of a prolonged slump casino revenues for the area that need intervention.
“We’re hopeful that some policy changes may be forthcoming from the legislature in the next couple of years that will address some of the competition issues that Baton Rouge is facing and hopefully we’ll still have three boats up and running and operating and people employed,” says Jones
The Belle was the first to open in the now troubled market. Baton Rouge peaked in the fiscal year ending June 2017 at $308.8 million and has slumped the last two years. Revenue has fallen to nearly one-fourth to $235.6 million for June 2019. Jones says new smoking bans had a major impact. “We certainly can’t blame the loss of revenue and gaming just to smoking, but smoking does have an impact.”
In New Orleans market, Jones says casinos saw a 20 percent drop in business after the smoking ban was implemented. Jones says all 20 casinos across the state has seen a decline in the last five years, and the commission is looking at potentially switching the location of some licenses. “I think the greater likelihood is that a license in Shreveport Bossier area will move, I don’t anticipate at this point one of the properties at Baton Rouge moving anywhere.” Jones says the gaming industry peaked after Katrina and has since been on the decline.
