The 11 venues posted gross operating profits of us$ 739.5 million in 2009
Profits drop 21% at Atlantic City casinos
(US).- Atlantic City casinos' gross operating profits fell more than 21 % last year, further proof that the recession and slots parlors in neighboring states continue to hurt the nation's second-largest gambling market.
2010-04-07
Reading time 26 seg
(US).- Atlantic City casinos' gross operating profits fell more than 21 % last year, further proof that the recession and slots parlors in neighboring states continue to hurt the nation's second-largest gambling market.
The resort city's 11 casinos on Monday posted gross operating profits of us$ 739.5 million in 2009 compared with us$ 940.9 million in 2008. Gross operating profit rose only at the Borgata, to us$ 204.4 million, up 1.6 %.
Gross operating profit is earnings before interest, taxes, depreciation, amortization, and other charges. It is a widely accepted measure of profitability in the gambling industry.
Occupancy in the casino hotels fell to 82.5 % last year from 87.4 % in 2008.
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