Like it or not, gaming in Louisiana is big business. And especially in Shreveport- Bossier.
And like it or not, increased competition from Texas, Mississippi and Arkansas is threatening to further injure, if not eventually kill, the golden goose that gaming represents.
Louisiana casino
revenues in 2016 were $916 million. In comparison, mineral revenues for
2016 were $581 million. (Total 2017 revenue numbers are not yet
available.)
The casino industry wants an expansion of the gaming revenues and tax relief to remain competitive.
Specifically,
the casinos want to get off the riverboats and operate on land — near a
waterway, but on dry land. Current law requires all gambling to take
place over water and in a riverboat.
Casinos also want more space for more slot machines and gaming tables.
Current
law limits gambling space to 30,000 square feet. To expand their
customer base, casinos want larger slot machines, more comfortable
chairs and more bells and whistles.
And
lastly, the casinos want a tax break on promotional free play cards
that are used to get customers in the doors. Currently, the “free money”
is taxed at 21 percent.
The casino industry will not ask the legislature to license more casinos — which currently is capped at 15.
Additionally,
online sports betting and other expansions of the gaming industry
probably will not be proposed in hopes of not alienating the “church
opposition.”
Much like the semantics used to initially legalize gambling by calling the industry “gaming,” the legislative amendments are being characterized as “modernizing” versus “expansion.”
On
the local front, Bossier Chamber of Commerce president Lisa Johnson,
Greater Bossier Economic Development Foundation executive director Rocky
Rockett and Greater Shreveport Chamber of Commerce president Tim Magner
all made a sales pitch to the Riverboat Economic Development and Gaming
Task Force in December 2016.
Collectively,
they emphasized the importance of gaming to the Shreveport and Bossier
economies. They also stressed the need to update the gaming laws that
have been on the books for 22 years.
"The casino industry wants an expansion of the gaming revenues and tax relief to remain competitive.”
The
local officials acknowledged that gaming is generating less money due
to limitations on gaming space, the high tax rate and failures to
upgrade to compete with other markets.
Locally
6,000 people are employed by the casinos. There is also a large number
of local businesses that provide both services and supplies to the
casinos.
Much
like the loss of AT&T, the General Motors plant, General Electric
and Gould Battery, the local casinos will need to become more
competitive to survive in this market. And like the economic blows these
closures dealt to the local economy, the casinos are now on the
endangered species list.
It’s
not rocket science to understand the need to update the gaming laws.
Hopefully, “church politics” will not overlook the importance of the
casinos to the local economy. With Louisiana’s continuing fiscal crises,
no one can logically oppose these requested changes.
John E. Settle Jr.
has been a resident of Shreveport since January 1977. His articles
appear regularly in local publications. He can be reached at 742-5513 or
e-mail to: [email protected].