Louisiana posted a 10% increase in gaming revenues in January, mostly of the same store kind. While an extra Friday and Saturday probably contributed almost half of that gain, the results are very impressive. Low gas prices certainly helped and more than offset any economic weakness associated with plummeting oil prices.
Aside from the weather and calendar impacted September, Louisiana gaming revenues have consistently grown in a range of -5% to +10%, decent enough but outstanding relative to other consumer sectors.
PNK and BYD were the big winners with gaming revenue up 16% each. PNK and BYD generate 72% and 16% of their EBITDA in Louisiana, respectively. PENN’s Baton Rouge property was up 7% but is only a small contributor to PENN’s arsenal.
Aside from the weather and calendar impacted September, Louisiana gaming revenues have consistently grown in a range of -5% to +10%, decent enough but outstanding relative to other consumer sectors.
PNK and BYD were the big winners with gaming revenue up 16% each. PNK and BYD generate 72% and 16% of their EBITDA in Louisiana, respectively. PENN’s Baton Rouge property was up 7% but is only a small contributor to PENN’s arsenal.
I like this trend