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Louisiana Riverboat Casino Revenue Down Again

LOUISIANA – As reported by the Shreveport Times: "The $137.5 million in riverboat revenues for March mark the third consecutive year-over-year decline for the month, dating to a high of nearly $155 million in March 2001.

"Riverboat revenues last month were the lowest for a March since 2000, when Hollywood Casino was still nine months away from its opening date in Shreveport.

"The brunt of the decline was centered in Shreveport-Bossier City, but the breadth of the decline was statewide. Although analysts prefer comparing year-over-year figures, the one-month decline was significant. In all, 10 riverboats posted March revenue figures lower than their February numbers, even though March has more days. Previously, the sharpest February-to-March revenue drop came in 2000, when five riverboats reported lower revenues in March than they had in February.

"…The addition of slot machines at three racetracks in the state, including Harrah's Louisiana Downs, is playing the largest role in the weakened riverboat numbers…"

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