January offered a complex financial landscape for Louisiana’s gaming industry, as reported by the Louisiana State Police Gaming Audit Section. The month saw fluctuations across different sectors, from riverboat casinos to mobile sportsbooks, each presenting its own set of challenges and gains.

Riverboat casinos navigate financial currents:

The state’s 14 riverboat casinos amassed $138.6 million in adjusted gross receipts. This figure represents an 8.6% decrease from December’s earnings but shows a 14% increase compared to January of the previous year, a boost partly attributed to the calendar’s additional Friday. Throughout the fiscal year 2024-25, these casinos have collectively garnered $991.3 million, marking a slight 1.7% increase over the prior year, with $213 million accrued in fees.

As reported by New Orleans CityBusiness, Caesars New Orleans encountered a significant downturn, with its gross gaming revenue dropping to $18.2 million. This 28% reduction from December and a 2.7% decrease from the same month last year underline some ongoing challenges. Despite these monthly variances, the state’s fiscal year-to-date revenue stands at $145 million, up 4%, with $38.3 million collected in fees.

The state’s four racetrack facilities saw slot machine earnings of $23.4 million, an 11.4% decrease from December, although they experienced a slight 2.8% year-over-year increase. The fiscal year’s earnings from these slots reached $176 million, a modest 1% rise. Video gaming devices spread across 1,394 locations with 12,005 active units generated $57.7 million, down by 9.4% from the previous month but up 0.5% from the previous January.

Sports betting dynamics:

The sports betting sector exhibited a mixed bag of results. Retail sportsbooks handled $27.9 million in wagers, leading to $2.6 million in net proceeds and $174,000 in taxes. In contrast, mobile sportsbooks processed a substantial $355 million in bets, resulting in $38.3 million in proceeds and $5.7 million in taxes. Daily fantasy sports added to the revenue stream, generating $1 million in gross revenue with $135,400 in net revenue and $10,800 in taxes.

According to the Louisiana Gaming Control Board, sportsbooks accepted $382.8 million in wagers in January, a slight decline from December’s $390.7 million. This period, encompassing the NFL playoffs, is typically lucrative, despite the slight month-to-month downturn. The promotional strategies were aggressive, with nearly $13 million in deductions, an attempt to attract bettors during one of the peak betting seasons.

Retail sportsbooks in Louisiana showed some recovery from a bleak December, with a year-over-year revenue drop of 20.6%, which represents an improvement from November’s steeper declines. Mobile sportsbooks, however, continued to thrive, enhancing their yearly handle by 11.7% and revenue by 7.5%. January particularly favored mobile betting, with parlay bets dominating the earnings, contributing $29.5 million to the mobile revenue pool.