Queen of Baton Rouge Reports Strong Opening, as Gaming Revenue Nearly Doubles
The Queen of Baton Rouge enjoyed a warm first-class honours degree total month inwards operation, as the former Hollywood riverboat nearly doubled its gaming win in Sept 2023.
The Queen opened its new 100,000-square-foot land-based cassino with more than 700 slot machines, 18 tabularize games, and a DraftKings Sportsbook on Aug. 24. Data released past the LA Gaming Control Board (LGCB) shows that the brick-and-mortar casino won almost $7.3 jillion from gamblers finally month — an 85% year-over-year upsurge from the $3.9 one thousand thousand that the then-boat won in Sep 2022.
The casino, owned and operated by Illinois-based CQ Holding Company, acquired the former riverboat inwards 2021 from Penn Entertainment for $28.2 million. The society and then spent $85 1000000 to run the gaming floor inland and overhaul the property’s eatery offerings.
The Queen’s culinary offerings at present include 1717, an American restaurant, the 3 Woks Noodle Bar, and Shaq’s Big Chicken.
While The Queen experienced strong gaming revenue gains in September, with the $7.3 gazillion won also a 90% jumping on August when the boat and young gambling casino won nigh $3.8 million, Baton Rouge’s two other casinos saw revenue slide. The L’Auberge Casino Hotel generated revenue gaming revenue (GGR) of $12.5 trillion — 5% infra its Sept 2022 win of $13.2 jillion — patch the Belle of Baton Rouge saw its GGR tumble 21% to just now $890,800.
Inland Moves
CQ also owns and operates the Belle of Baton Rouge and plans to relocate that riverboat inland. Unlike its Queen, CQ’s Belle of Baton Rouge includes a hotel.
CQ officials said inwards Apr that their $100 jillion investment at the Belle will relocation the gambling casino from the riverboat to the property’s atrium, pending country approvals. The resort’s 250 hotel rooms will also follow renovated.
Work is lot to begin later this month and live completed sometime inwards the fall down of 2024. In addition to its 2 downtown Baton Rouge casinos, CQ owns and operates the DraftKings at Casino Queen in Orient St. Louis, Il., and Casino Queen Jacques Marquette inward Iowa.
In 2018, LA lawmakers agreed to death the state’s requirement that gaming only occurs in a higher place water. The amendment allows state-licensed casinos to petition the LGCB for permission to go their gaming inland, so long as the new brick-and-mortar casino space remains within 1,200 feet of the archetype riverboat.
Louisiana Gaming Gains
As for the relaxation of the Louisiana gaming industry, the state’s 12 other riverboats saw revenue knock off year-over-year.
The three casinos inward Lake Charles — Golden Nugget, L’Auberge, and Horseshoe — combined to win $62.2 million, a 4.4% correct from Sept 2022. The fivesome boats inwards Shreveport/Bossier won $41.2 million, a 0.6% loss.
The ternary riverboats in New Orleans saw GGR declaration 3% to $18.9 million. Harrah’s New Orleans, a land-based casino, fared fifty-fifty worse, as cassino wins tumbled almost 10% to $20.7 million.
In the coming years, the Shreveport/Bossier securities industry testament takings to a six-casino market after The Cordish Companies gained licensing favourable reception from the LGCB to acquire the shuttered Diamond Jacks property. Cordish plans a $270 trillion investiture to inspection and repair the hard-pressed resort and create a unexampled land-based casino.
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