Louisiana John Bel Edwards signed into law S. B. 5, an $83 million incentive that will allow the state’s 15 riverboat casinos, land-based casinos and racinos to give customers $5 million in free promotional play and not have to pay taxes on the money.
Louisiana Gaming Association Executive Director Wade Duty said, “This is a tool that’s not only necessary for growth. It’s a tool that is necessary to stop the bleeding” from Covid-19. Sponsored by state Senator Ronnie Johns, the bill is intended to boost the state’s gaming industry which has taken a $122 million hit since May 2019 due to the pandemic.
Edwards said he signed the legislation despite concerns about its impact on the state treasury. The bill will cost the state $11 million in the first year and increase annually, legislative financial analysts said. It’s one of nearly
dozen measures designed to expand and extend business tax credits, exemptions and incentive programs.
