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Louisiana Casinos Report Mixed Results

LOUISIANA – As reported by the Louisiana Times-Picayune: "Harrah's New Orleans Casino set a revenue record in May, according to numbers released Monday by Louisiana State Police auditors, while a new promotion at Bally's Casino New Orleans does not appear to be making significant changes in the ailing riverboat's fortunes.

"Harrah's generated $27.8 million in May, up 9.4 percent from May 2003, because of a steady stream of promotions at the Canal Street casino aimed at national customers of Harrah's Entertainment Inc., said John Payne, senior vice president and general manager of Harrah's New Orleans.

"…On the opposite side of the spectrum, revenue at Bally's Casino New Orleans dropped 5.5 percent from last year to $5.2 million in May, raising further questions about the success of its 'loose slots' promotion.

"…Bally's win-per-customer has dropped slightly each month since February, to $44.14 per patron in May. But the casino has failed to generate a higher volume of customers to make up for the lower casino hold, or the amount of money that the casino keeps on each play. In May, for example, Bally's had 116,849 customers, down 3.1 percent, or 3,717 people, from May 2003.

"…The two other area riverboat casinos showed strong results. In Kenner, the Treasure Chest generated $10 million in revenue in May, up 2 percent from May of last year. On the West Bank, the Boomtown generated $9.9 million in revenue, roughly unchanged from May 2003…"

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