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ATLANTIC CITY CASINO PROFITS SLIDE A FURTHER 7.4 PERCENT
05th April, 2012 at 03:38:39
Gross operating profits at 11 land casinos in 2011 declined to just under $495 million.
The latest New Jersey Division of Gaming Enforcement gambling stats released Wednesday reveal that Atlantic City's 11 land casinos saw gross operating profits decline by 7.4% in 2011, to just under $495 million.
The numbers show a marked decline from the 2010 figure of $534.6 million, with Associated Press noting that Atlantic City recently lost its status as the nation's No. 2 casino market to Pennsylvania.
Optimists pointed to the Q4-2011 improvement; over the final three months of the year, the casinos' gross operating profit increased by 26.1% from the same period in 2010, to $78.5 million.
However, over the full year only four of the 11 casinos showed increases in gross operating profits - Caesars Atlantic City, up 21.5% to $87.3 million; Trump Taj Mahal Casino Resort, up 9.1% to $55.3 million; the Showboat Casino Hotel, up 7.4% to $48.4 million, and Trump Plaza Hotel and Casino, which went from a $2.3 million operating loss in 2010 to a $2.6 million operating profit in 2011.
Related News Tags: Land Casinos, Atlantic City, New Jersey
BULLISH FORECAST FOR PENNSYLVANIA ONLINE GAMBLING
28th March, 2017 at 19:47:54
Hundreds of millions of dollars in new tax revenue possible with legalisation.
MORE DETAILS ON COSTA ONLINE GAMBLING LEGALISATION BILL IN PENNSYLVANIA (Update)
21st March, 2017 at 21:54:56
Senator Jay Costa introduces his bill SB524 with the support of three other senators.
NOW WEST VIRGINIA EYES ONLINE GAMBLING LEGALISATION
18th March, 2017 at 06:34:19
New legalisation bill follows earlier challenge to PASPA
REPUBLICANS FILE ANTI-ONLINE GAMBLING BILL IN PENNSYLVANIA
14th March, 2017 at 08:11:41
HB801 has echoes of last year's unsuccessful attempt authored by former Representative (now Senator) Mario Scavello.
BETFAIR BREAKS EVEN IN NEW JERSEY
11th March, 2017 at 07:26:29
Profitability in sight as licensed online partnership with Golden Nugget prospers and US television assets grow.