Recession Finally Hits Louisiana CasinosPublished February 9, 2010 by OCR Editor
Louisiana is one of the last states to feel the effects of the global recession.
The theory that the casino business is a recession-proof industry, as it was hailed in the 80s and 90s, has been disproved-even in Louisiana.
For a period of time it seemed that the Louisiana casino industry was immune to the effects of the world economic downturn. While casinos' revenue in the likes of Nevada and New Jersey began dropping in early 2008, Louisiana's casinos continued to do strong business even a year later.
This mini-boom in Louisiana has been attributed to Hurricane Katrina. The casinos were benefiting from the relief money that the residents received and the high number of recovery workers who were pouring into New Orleans to help with the reconstruction.
However, those times are now over and Louisiana is suffering along with all the others around the United States. Louisiana casinos just have posted a year on year fall in revenue of more than 15 per cent. As unemployment rates have soared, Louisiana households now have less disposable income to spend in casinos.
Online casinos seem to have faired the recession better than land based casinos as the costs of such entertainment is lower.