Barclays on Gaming (Consumer): July Louisiana Gaming Revenues Up 2.3%
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Barclays on Gaming (Consumer): July Louisiana Gaming Revenues Up 2.3%
Barclays analyst, Felicia R. Hendrix, said, "Louisiana gaming revenues rose 2.3% in July. The increase compares to a 6.8% gain in June and 2.4% increase in 2Q11. The Lake Charles market gained 11.8% (driven by L'Auberge du Lac up 17.2% and Delta Downs up 13.2%), Shreveport rose 0.1%, Baton Rouge was up 3.7%, and New Orleans was down 5.2% due to a 13.7% decline at Harrah's New Orleans. As a point of comparison, revenues in July 2010 fell 0.4% year over year."
Pinnacle's (NYSE: PNK) Louisiana properties were up 10.7%. L'Auberge du Lac in Lake Charles (PNK's largest property at 37.3% of 2010 property EBITDA) rose 17.2% to $35.8 million (the property was up 10.3% in 2Q11 and up 3.3% in 1Q11).
Boyd's (NYSE: BYD) Louisiana properties were up 7.1%. Delta Downs in Lake Charles rose 13.2% to $18.0 million, Sam's Town Shreveport fell 2.1% to $11.0 million, and Treasure Chest in New Orleans rose 8.0% to $10.2 million.
Penn's (Nasdaq: PENN) Hollywood Baton Rouge was up 10.7% to $11.1 million.
Caesars (Nasdaq: CZR) fell 7.0% in total. In Shreveport, Horseshoe rose 1.0% while Louisiana Downs declined 2.6%. Harrah's land-based New Orleans casino fell 13.7%.
Isle of Capri's (Nasdaq: ISLE) Lake Charles property was down 1.4%.
Barclays analyst, Felicia R. Hendrix, said, "Louisiana gaming revenues rose 2.3% in July. The increase compares to a 6.8% gain in June and 2.4% increase in 2Q11. The Lake Charles market gained 11.8% (driven by L'Auberge du Lac up 17.2% and Delta Downs up 13.2%), Shreveport rose 0.1%, Baton Rouge was up 3.7%, and New Orleans was down 5.2% due to a 13.7% decline at Harrah's New Orleans. As a point of comparison, revenues in July 2010 fell 0.4% year over year."
Pinnacle's (NYSE: PNK) Louisiana properties were up 10.7%. L'Auberge du Lac in Lake Charles (PNK's largest property at 37.3% of 2010 property EBITDA) rose 17.2% to $35.8 million (the property was up 10.3% in 2Q11 and up 3.3% in 1Q11).
Boyd's (NYSE: BYD) Louisiana properties were up 7.1%. Delta Downs in Lake Charles rose 13.2% to $18.0 million, Sam's Town Shreveport fell 2.1% to $11.0 million, and Treasure Chest in New Orleans rose 8.0% to $10.2 million.
Penn's (Nasdaq: PENN) Hollywood Baton Rouge was up 10.7% to $11.1 million.
Caesars (Nasdaq: CZR) fell 7.0% in total. In Shreveport, Horseshoe rose 1.0% while Louisiana Downs declined 2.6%. Harrah's land-based New Orleans casino fell 13.7%.
Isle of Capri's (Nasdaq: ISLE) Lake Charles property was down 1.4%.
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