Louisiana casinos are recording lower and lower winnings as potential gamblers are tightening their belts to deal with the weakening economy and high gasoline prices.
BusinessWeek.com reported that state-licensed casinos in Louisiana reported a 7.2 per cent drop in winnings from March to April, a time usually prosperous for casinos as income tax refund cheques arrive.
Andy Holtman, editor of Casino Journal, commented on the figures: "The economy, gas prices, job losses are why you are seeing diminished results."
Often heavily dependent on drive-in gamblers, the casinos here are particularly susceptible with rising oil prices, something being combated by increased focus on the fly-in market cornered by places like Las Vegas.
In an attempt to attract punters of this sort, casino giant Harrah's has recently constructed its AAA Four Diamond Award-Winning Harrah's Hotel in New Orleans to make the casino more competitive with the 13 riverboat casinos in the city.
Louisiana casinos are recording lower and lower winnings as potential gamblers are tightening their belts to deal with the weakening economy and high gasoline prices.