Tropicana was the exception
Operating profits fall for six Atlantic City casinos in first quarter 2014
2014-05-26
Reading time 34 seg
(US).- Six of 11 casinos in Atlantic City had gross operating losses in the first quarter, the New Jersey Division of Gaming Enforcement reported. In aggregate, gross operating profits for those four casinos - Borgata, Caesars, Harrah's, and Showboat - fell 35 percent, to USD 50.36 million from USD 77.83 million.
Tropicana was the exception. Its gross operating profit soared to US$ 32.09 million this year from US$ 1.98 million thanks to the way it accounted for a property-tax settlement.
Revel, Atlantic City's newest casino, cut its gross operating loss nearly in half, to US$ 21.75 million from US$ 40.78 million.
Also noteworthy are the results of the Golden Nugget, which has had strong increases in revenue. Despite that growth, the casino between the Borgata and Harrah's in the Marina District had a gross operating loss of US$ 1.8 million in the quarter.
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