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Louisiana revenue jumps

18 June 2008

NEW ORLEANS, Louisiana -- As reported by the Associated Press: "Fueled by a big holiday weekend and arrival of federal tax rebate checks, Louisiana's state-licensed casinos took in a 10.4 percent jump in revenue from gambling in May.

"The 13 riverboat casinos, Harrah's New Orleans land casino and four racetrack casinos recorded winnings of $235.2 million, up from $213.1 million in April, state police reported Tuesday. In May 2007, the casinos won $220.5 million.

"The jump came on the heels of a 7.2 percent drop in revenue from gambling from March to April. Analysts blamed the slump on a sluggish economy and record gasoline prices.

"...Louisiana State University economist Loren Scott said the casinos benefited from five weekends of operation in May 2008 compared with four a year ago, and that gamblers apparently took at least part of their tax rebates to the casinos..."

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