Louisiana’s biggest casino market is hitting the jackpot again. How long will the party last?
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Louisiana’s biggest casino market is hitting the jackpot again. Last week, the Golden Nugget opened a sportsbook in Lake Charles. Mattress Mack, a prolific gambler, placed a $60,000 bet on Texas A&M over Ole Miss at the DraftKings Sportsbook. There are questions over how long the region will be able to ride the wave of new money. There have been efforts to legalize casino gambling next door in Texas. This could cut deeply into the LakeCharles' customer base. Mike and Sandra Sutherland would stay in the area if a casino opened closer to them.
Louisiana’s biggest casino market is hitting the jackpot again. Local officials are aware of that possibility and say they are prepared for it. Calcasieu Parish does not budget casino revenue in the year it is generated, instead holding it in reserve until the following year. The city uses the money for nonrecurring expenses such as infrastructure projects and debt payments. A parishwide pool has been created to distribute the revenue based on formulas. Lake Charles Mayor Nic Hunter would like to see the gaming industry explore investment in poorer sections of the city.
Louisiana's biggest casino market is hitting the jackpot again. The industry's time in Lake Charles has not come without turbulence. Hurricane Laura damaged the Golden Nugget and L’Auberge. Revenue from the L'Auburge and Golden Nines totaled $49.2 million in September. Gaming and casinos make up about 7 to 8% of the overall state budget. They provide a source of revenue for the state. There are plans for permanent facilities in the works. Texas is a threat to the industry. Ronnie Johns is the former state senator from Lake Louis.
