Gambling in the USA

Atlantic City Casino Profit Declines

Published

6 years ago

April 11, 2019

Niji Narayan

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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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.