L’Auberge Casino & Hotel raked in more winnings—$13.3 million—in the month of September than Baton Rouge’s two other casino boats combined, according to a gaming revenue report released today by Louisiana State Police.
Hollywood Casino came in second, with $7.3 million; the Belle of Baton Rouge generated $4.6 million.
The total revenue of $25.2 million is 70% more than the $14.8 million that Hollywood and the Belle generated in September 2011.
The September revenue report is the first to include L’Auberge since the new riverboat opened Sept. 1 at River Road and Gardere Lane. Hurricane Isaac delayed its opening by three days.
Compared to a year ago, Hollywood earned $1.7 million less last month, and the Belle earned $1.2 million less.
James Rigot, general manager of Hollywood Casino, told Business Report before L’Auberge’s opening that the new casino would have to grow the local casino market by 50% if all three casinos were to survive.
The collective pot got a lot bigger than that in L’Auberge’s first month. But it doesn’t indicate that a downtown boat won’t fold.
“I would be a little surprised if [the market] sustained that level of improvement over time,” says economist Loren Scott.
While the newness of L’Auberge played into the riverboat’s hand for its first revenue report, Scott says the barge-like boat has a big advantage over the triple-tiered boats regarding the 30,000 square feet of gaming space the casinos are bound to by law. With all gaming located on a single floor, there is no space lost to stairwells at L’Auberge.
“And people like that,” Scott says. “I think this is really going to be a challenge for both of the boats to stay in operation.”
But it won’t be evident until the newness of L’Auberge wears off. Last month, L’Auberge had 167,281 visitors. Hollywood and the Belle had 76,978 and 71,291, respectively.
“Certainly a year from now, we’re going to know a whole lot more,” Scott says.
