American Gaming Association President Geoff Freeman last week addressed legislators in Louisiana, in a speech before the Louisiana Riverboat Economic Development and Gaming Task Force.
Freeman acknowledged the AGA’s commitment to the state and its gaming industry, in which revenues have remained flat as neighboring states have recovered from the recession and Hurricane Katrina.
“The creation of this task force is also an astute acknowledgment that the public policies that guided gaming’s expansion beyond Nevada and New Jersey are not necessarily the same policies that will empower the industry to succeed in today’s ultra-competitive environment where gaming is now viewed as a mainstream industry,” Freeman said.
Pinnacle Gaming CEO Anthony Sanfilippo also participated in the presentation, providing background on the industry for legislators unfamiliar with gaming issues.
Freeman noted that Louisiana’s 24 casinos drive $4.8 billion in economic activity, support nearly 32,000 jobs, and generate $1.3 billion in federal, state and local tax revenues, but the gaming environment has changed dramatically
“Today’s gaming market is far more competitive. While Louisiana was an early entrant, today the state is boxed in on all sides,” he said.
Sanfilippo began his presentation by showing a slide of WinStar Casino in southeastern Oklahoma.
“Drive through Oklahoma and you’ll see impressive facilities,” he said. “Go into WinStar and it takes a mile to walk the floor. They have 7,000 slots.”
Freeman added that there is overall more competition for the entertainment dollar.
“Casinos today also fight for market share not just with other gaming operators, but with sporting events, concerts, restaurants, nightclubs, video games, virtual reality and dozens of other leisure opportunities,” he said.
“The gaming industry constantly has to change and improve its product—just like any restaurant in Baton Rouge and every tourist attraction in New Orleans. Your goal should be keeping Louisiana one step ahead of the competition.”
