Atlantic City Casino Profits Slide A Further 7.4 Percent

ATLANTIC CITY CASINO PROFITS SLIDE A FURTHER 7.4 PERCENT

05th April, 2012 at 03:38:39
Source: http://www.azonlinecasinos.com

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.

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