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Gambling in the USA

Atlantic City Casino Profit Declines

Published

6 years ago

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Atlantic City Casino Profit Declines
Photo Source: phillymag.com
Reading Time: < 1 minute

 

According to Division of Gaming Enforcement (DGE), casino licensees in Atlantic City increased net revenues by 7.5 per cent to US$2.8 billion for 2018. However, profits were down in Atlantic City last year.

The casino licensees saw their gross operating profit for the industry decrease 15.4 per cent to US$582.6 million for the twelve-month period. Last year was characterised by the reopening of two shuttered gambling halls: Ocean Resort Casino and Hard Rock.

According to statistics released by the DGE, of the seven casinos operating at the start of 2018, five of them saw lower gross operating profits, and only Tropicana and Golden Nugget increased their operating profits last year.

James Plousis, chairman of the New Jersey Casino Control Commission, said that “profit margins were tighter.” He added: “But the resort added thousands of jobs and many exciting new amenities, which position us well for continued growth,” he added.

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