The Louisiana Gaming Control Board has reported an impressive $52.7 million in gross sports betting revenue for January. The figure reflects the aggressive marketing efforts of the Pelican State’s ten mobile sportsbooks, which actively courted and engaged the public. Increased spending also reflected positively on the state’s budget, bolstering community-focused initiatives.

Louisiana Remains an Attractive Market for Operators

Ten sportsbooks represent Louisiana’s sports betting sector, including well-known names like BetMGM, Caesars, FanDuel, DraftKings, PointsBet, Betway, and ESPN Bet. The state’s wagering scene remains dynamic, evidenced by Bet365 and ClutchBet’s recent entries in this jurisdiction as they attempt to disrupt the status quo and secure a sustainable market share. 

According to state regulations, digital operators in Louisiana have a promotional spend limit of $5 million per calendar year, encouraging companies to spend strategically to capitalize on high-profile events or bolster retention during slower months. January witnessed a record-high spending spree, with $13.8 million in promotional credits and bonuses, surpassing the previous record set in January 2022.

The Louisiana Gaming Control Board (LGCB), the state’s gambling regulator, closely monitors ongoing trends to ensure operators remain accountable and do not violate marketing rules. This comprehensive data also enables Louisiana authorities to adapt to industry developments, ensuring adequate customer protection and social accountability.

January Set the Stage for a Successful Year

Louisiana’s year-over-year handle saw a remarkable 22.7% surge, reaching $346.3 million, making it the third-largest total in Louisiana State history. Although 8.1% lower than the record set in December 2023, the figures indicate a robust and thriving sports betting market in the state. The online sector retained its dominance, recording a handle of $317.8 million, while retail sportsbooks collected $28.5 million.

January had remarkable revenue holds, with a 15.2% win rate. This result marked the sixth time in 25 months of mobile betting that the win rate exceeded 15%, more than double the industry standard of 7%. The high win rate and the significant promotional spend made the state eligible to tax approximately 74% of the gross revenue, collecting almost $39 million.

The report indicates a robust start to the year for Louisiana’s sports betting operators, showcasing the significant growth and potential of the market. Extra funds will bolster the state’s education programs and help finance gambling harm prevention initiatives. Despite the slight slowdown in January, next month’s results should more than compensate, bolstered by the traditional Super Bowl surge.

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Leading global hospitality and entertainment company MGM Resorts proudly announced its continued support for the LGBTQ+ community by returning as the presenting sponsor of the annual Las Vegas Pride Parade. This iteration marks the 17th consecutive year of the operator sponsoring the event, demonstrating its unwavering commitment to promoting inclusivity and equality.

The Company Has Been a Staunch Supporter of Diversity

MGM Resorts has a rich history of supporting the LGBTQ+ community, with its involvement in the Las Vegas Pride Parade dating back to 2003. Over the years, the company has consistently shown its dedication to fostering a more inclusive world. As part of its sponsorship, MGM Resorts employees will actively participate in the parade, proudly marching alongside the company’s float.

The company offers enduring support for its LGBTQ+ workforce by providing free resources to help employees access quality healthcare. MGM Resorts has consistently advocated for LGBTQ+ human rights, championing equality and inclusivity. Chief People, Inclusion & Sustainability Officer Jyoti Chopra noted that the company’s participation in the annual parade was a natural extension of its efforts to foster inclusivity and equality.

We are proud to reaffirm our support for the LGBTQ+ community and celebrate love in all its forms.

Jyoti Chopra, MGM Resorts Chief People, Inclusion & Sustainability Office

MGM Resorts has been at the forefront of LGBTQ+ rights and inclusivity. In 2004, the company demonstrated its commitment by becoming one of the first organizations in the gaming and hospitality industry to provide same-sex health benefits to its employees. Additionally, MGM Resorts has offered same-sex ceremonies at its chapels, further advocating for LGBTQ+ rights.

Social Responsibility Remains a Driving Principle

The operator’s dedication to promoting equality has earned recognition from the Human Rights Campaign (HRC). The HRC has acknowledged MGM Resorts as one of the nation’s “Best Places to Work for LGBTQ+ Equality.” Furthermore, the company has achieved a perfect score on the Corporate Equality Index for 11 consecutive years. 

MGM Resorts’ support for the annual Las Vegas Pride Parade perfectly aligns with its community-focused mindset. The MGM Resorts Foundation recently awarded $2.7 million to worthy causes, showcasing its continued dedication to fostering positive change. These funds contributed to tackling pressing concerns like homelessness, aiding veterans and military families, addressing food insecurity, advancing education, and promoting health and wellness initiatives.

Despite recent setbacks, MGM Resorts remains at the forefront of the gaming industry, thanks in no small part to its long history of advocacy and promoting inclusivity. The company’s participation in the Las Vegas Pride Parade for the 17th consecutive year reaffirms its unwavering commitment to supporting and celebrating the LGBTQ+ community, helping it stand apart from the competition.

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