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Casino Revenue Slide Eases with Strong Month in Louisiana
BATON ROUGE, LOUISIANA --
July showed strong results for Louisiana casinos, as the decline for revenues over last year dropped considerably. June's gambling income in the state was down almost 11 percent from 2008, but July figures show a surge in gaming number, leaving casinos only 5.1 percent behind last year.
Travel cutbacks and tight budgeting by players have resulted in declining numbers at casinos around the US. Similar problems were expected in July, as the Fourth of July is traditionally a travel-based holiday, exactly the type of event that has disappointed gambling operators over the last year.
Still, casinos counting on visitors from across state lines found casino numbers to be mixed on results, as Lake Charles and Shreveport casinos tread water against last year's numbers.
Evangeline Downs, which moved from its traditional home in Lafayette to Opelousas, was the only venue to show a significant rise in gambling intake, as the horse track and racino took in $9.4 million, up from $9 million last July.
Ominously, the losses on the Texas border may not be related to the economy, but rather increasing competition from tribal casinos in Oklahoma. Rumblings for the past year of legal casino gambling in Texas haven't borne fruit, but casinos in west Louisiana must prepare for the inevitable and market themselves accordingly.
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