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October Louisiana casino revenue up - BusinessWeek

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Louisiana's state-licensed casinos pulled in a bit more money from gamblers last month than in October 2009.

The 13 riverboats, Harrah's downtown New Orleans casino and the four race track casinos won $196.7 million last month, according to a state

police report issued Thursday. That's up 1.8 percent from the October 2009 tally of $193.3 million.

Last month, the riverboats took in $135.7 million, the New Orleans land casino won $29.6 million and the four slot casinos at race tracks won $31.4 million.

In September 2010, gamblers lost $185.7 million.

"It's encouraging," said industry analyst Cory Morowitz of Galloway, N.J.-based Morowitz Gaming Advisors. "It tells you the consumer may be seeing some recovery, albeit a weak recovery. That of itself is encouraging. It fits with the overall economic situation."

The two markets that depend heavily on players from Texas -- Shreveport-Bossier City and Lake Charles -- were a mixed bag. The five riverboats and the Louisiana Downs casino that make up Shreveport-Bossier city won $62.8 million last month, up from $58.6 million in October 2009.

But the take was about even in the Lake Charles market -- with three riverboats and the Delta Downs track casino. Those outlets took in $51.3 million last month, a slight drop from $52.9 million in October 2009.

In New Orleans, two riverboats, the land casino and the Fair Grounds casino won $55.6 million in October, a bit more than the $54.5 million take in October 2009. Harrah's won $29.6 million, a drop from the year-ago total of $30.7 million.

The two riverboats in Baton Rouge won $15.3 million, down from $15.9 million in October 2009. The lone riverboat near Morgan City won $4.4 million, a boost from the year-ago total of $3.8 million. The Evangeline Downs track casino at Opelousas took in $7.3 million, a dip from the October 2009 take of $7.6 million.

The report does not include Louisiana's three Indian reservation casinos, which are not required to report their winnings to the public.




Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNE9W1tk_kLdBf3-C7MDPmtpYKL9Ug&url=http://www.businessweek.com/ap/financialnews/D9JJ87FG1.htm

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