Shreveport-Bossier Casino Market Gets Boost From Newest Arrival
The Shreveport-Bossier casino market is showing signs of fresh momentum thanks to the arrival of its newest major player.
According to a quarterly economic report, overall revenue in the region’s gaming industry has climbed, largely driven by the opening of Live! Casino & Hotel Louisiana earlier this year.
The new resort, which held its grand opening in February, has quickly made a mark on the local scene.
In July alone, the venue attracted nearly 125,000 guests, more than double the visitor counts of several long-established casinos such as Sam’s Town, Boomtown and Horseshoe.
Analysts say Live! was a key factor in pushing casino market revenue up by 5% in the second quarter, and nearly 15% compared to the same period last year.
Established Operators Feel the Pressure
Although the new arrival has brought excitement into the marketplace, operators are not wholly enthused.
In the same report, Boomtown, Margaritaville, Sam's Town and Bally's all reported revenue declines over the last two quarters.
However, industry professionals said the overall environment seems stable for the time being.
Local officials in Shreveport conceded that the gaming market is slowly emerging from the COVID fallout.
They noted that the pandemic had a significant impact on local casinos and that revenues have only slightly changed year on year since.
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A Resort Experience Beyond Gaming
Live! Casino & Hotel Louisiana is marketing itself as more than a gaming facility.
The new $270million resort includes more than 1,000 slot machines, 40 live-action table games and a luxury hotel with 549 rooms.
Guests can also enjoy dining and entertainment options along the Red River, making Bossier City one of the largest and most ambitious developments in years.
The venue’s loyalty program, Live! Rewards has already earned recognition as one of the nation’s best, according to USA Today’s 10 Best survey and Casino Player Magazine.
Competition and Market Outlook
Still, competition in northwest Louisiana remains fierce. Margaritaville, just a few minutes away, is still the revenue leader in the market, even with its recent declines.
Industry observers note Live! is changing the balance but has not yet dethroned Margaritaville as the region's number one casino.
The bigger question is whether Live!’s rapid success will expand the overall market or redistribute existing players among the casinos.
The latest numbers suggest both are happening, with an overall revenue lift alongside dips at some established operators.
What It Means For Bossier City
Live! signifies a commitment to Bossier City as a destination for entertainment and tourism.
The expected attendance at the site is expected to generate crowds that can contend with the largest attractions in the area.
The city expects that increased foot traffic will spill over into hotels, restaurants and other establishments that desperately need additional revenue.
It is yet to be seen if that optimism becomes sustainable growth, but for the first time in many years, the northwest Louisiana casino market has some new things to talk about and plenty of reasons to keep watching how the cards fall.
