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Casino companies operating successful Louisiana, wherever casinos proceed to beryllium shuttered much than a week aft Hurricane Ida made landfall, tin expect double-digit percent declines successful gaming revenue, an expert predicted Tuesday.
Carlo Santarelli, successful a study to investors, said helium expects a 19 percent diminution successful August gross gaming gross successful the authorities compared with 2019 figures.
Louisiana is the lone marketplace of six monitored by Santarelli and the New York bureau of Deutsche Bank that helium expects to declaration with accrued gross forecast connected the Las Vegas Strip, the Las Vegas locals market, Missouri, Ohio and Indiana.
“If we presume the regular walk per measured visitant successful August is akin to the 33.2 percent two-year summation successful July, it would connote a 19 percent two-year gross gaming gross diminution successful Louisiana successful August, comparative to the 9.7 percent two-year summation successful July,” Santarelli’s study said “Recall, Hurricane Ida made landfall connected Aug. 29.”
Ida, 1 of the astir almighty storms successful history, knocked retired powerfulness successful overmuch of Louisiana.
A inferior operation adjacent Avondale collapsed into the Mississippi River to make a large outage. Avondale is crossed the stream and southwest of downtown New Orleans.
Local authorities estimated 1 cardinal radical were without powerfulness aft the Category 4 tempest blasted done the region.
Casinos astir New Orleans stay closed, including the largest successful the marketplace and the lone land-based casino spot successful the state, Harrah’s New Orleans.
“Our properties, Harrah’s Gulf Coast (Biloxi, Mississippi), Harrah’s New Orleans and Belle of Baton Rouge, were each closed implicit the (Aug. 28) play successful beforehand of Hurricane Ida’s landfall,” a Caesars Entertainment Inc. spokeswoman said past week.
Harrah’s Gulf Coast and Belle of Baton Rouge reopened past week.
“We person nary timetable for the reopening of Harrah’s New Orleans. Currently, we are moving with section exigency services,” she said. “We besides stay focused connected supporting our impacted squad members successful the Gulf South region.”
New Orleans-area casinos operated by Las Vegas-based Boyd Gaming Corp. and Penn National Gaming Inc. of Pennsylvania, besides stay closed.
Boyd’s Treasure Chest astatine Lake Pontchartrain successful Kenner, northwest of downtown New Orleans, and Penn’s Boomtown riverboat casino remained closed. Boomtown is southbound of downtown New Orleans, connected the other broadside of the Mississippi River successful Harvey.
A Penn National spokesperson said past week that harm was inactive being assessed successful Louisiana but that the company’s Hollywood Gulf Coast and Boomtown Biloxi properties successful Mississippi reopened Aug. 31.
Contact Richard N. Velotta astatine rvelotta@reviewjournal.com oregon 702-477-3893. Follow @RickVelotta connected Twitter.
Review-Journal unit writers Mike Shoro and Colton Lochhead contributed to this report.
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