Caesars and Tropicana lead revenue growth in Atlantic City during Q1
“The market has shown signs it has reached bottom and the right-sizing of the industry has allowed the operators to stabilize their operations and improve profitability,” said Joseph Weinert, executive vice president of Spectrum Gaming Group in Linwood.
“And when that happens, they’re able to market more effectively and continually refresh and improve their properties. When you have nicer properties and improved marketing plans, you’re able to more effectively attract patrons.”
Overall, the industry recorded about 9 percent growth over the first quarter of 2016 when excluding Trump Taj Mahal Casino Resort, which closed in October.
Gross operating profits, which reflect a casino’s profitability before deducting expenses such as taxes and interest, were up 25 percent among still-operating casinos. Borgata Hotel Casino & Spa reported gross operating profits of $61.4 million, a 29% increase.
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