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Changing the rules regulating the casino game rests with the Legislature, but, regardless of what lawmakers might do, it appears the Baton Rouge market can sustain three casinos—a notion panned by many when L’Auberge entered the market five years ago.
Since then, adjusted gross revenues from casinos in East Baton Rouge Parish has grown by $92 million, according to figures tracked by the Louisiana Gaming Control Board.
That doesn’t mean there hasn’t been a reshuffling of the casino revenue deck.
Hollywood Casino, in particular, has been hurt by the opening of L’Auberge, with its annual revenue declining from $122 million in the 2011-12 fiscal year to $67.3 million last year, a drop of $54.7 million.
Knapp told the Riverboat Economic Development and Gaming Task Force that allowing riverboats to move on land, relaxing the restrictions on the amount of gaming space and clearing the way for sports betting would have a positive economic impact on the region.
The task force has not yet finalized any recommendations, and Knapp said BRAC hasn’t taken a position on them.
Even without those changes, he says the market is likely to remain healthy.