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Louisiana mobile sports wagers increased in December

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(The Center Square) — Mobile sports wagers were up again in December, marking an increase every month so far in fiscal year 2023-24.

“Once again, sports book continues to boggle our minds with these numbers,” Louisiana Gaming Control Board Chairman Ronnie Johns said at a meeting last week. “Three-hundred and seventy-seven million total, I think, in … the month of December, which is another record.

“Looks like every month we set a new record,” he said. “It’s all driven by football … during the fall months.”

Mobile sports books took a total of $344.9 million in wagers, with a 14.9% win percentage resulting in $51.2 million in net proceeds and $7.1 million in taxes paid. The numbers put revenues through the first six months of fiscal year 2023-24 at $23.9 million, up 7.9% from the same time in fiscal year 2022-23.

December’s $344.9 million in mobile sports wagers tops November’s by about $22 million, up 57.7% from the prior year. The figure has been on a steady rise from $122.5 million in mobile sports wagers in July 2023, according to the December revenue report.

Parlay led in betting proceeds for mobile sports books at $40.3 million, followed by football at $4.9 million, basketball at $4.5 million, other at $892,083, soccer at $542,357 and baseball at $17,048.

Retail sports books handled $32.1 million in wagers in December, with a 14.2% win percentage equating to $4.5 million in net proceeds and $407,672 in taxes paid. Unlike mobile, retail sports wagers were down 8.2% through the first half of fiscal year 2023-24 compared to the year prior.

Adjusted gross revenues for the state’s 14 riverboat casinos was $158.1 million in December, an increase of $17.6 million or 12.5% from November but $4.5 million or 2.8% below December 2022. The December riverboat revenues generated $34 million in fees for the state. Through the first six months of fiscal year 2023-24, the riverboat casinos collected $853.3 million in adjusted gross revenue, producing $183.5 million in fees. Both of those figures are down 0.4% from the same time in fiscal year 2022-23.

At Harrah’s New Orleans Casino, the state’s only land-based casino, adjusted gross revenue was $24.7 million, up 19% from $20.8 million in November and an increase of 7.8% from the $22.9 million collected in December 2022. The December revenue resulted in $5.5 million in fees to the state, bringing the total fee remittance through the first half of fiscal year 2023-24 to $32.7 million.

Compared to the same point in fiscal year 2022-23, Harrah’s revenues are down 9%, while fees remitted have slumped 0.3%.

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