Atlantic City reports positive results for third consecutive quarter

"The results for 2017 show the ongoing stability in the casino industry's revenue and an overall improvement in Gross Operating Profit,” said David Rebuck, director of the Division of Gaming Enforcement in a statement quoted by The Press of Atlantic City website.

“These latest financial results, combined with the renewed interest in Atlantic City, continue to provide a basis for optimism regarding the casino hotels and overall tourism in Atlantic City,” he added.

The report released this week by the state Gaming Commission revealed that casino revenue, including internet, gaming and hospitality, totaled more than USD 1.7B during the first six months.

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Gross gaming revenue through June totaled USD 1.2B, up nearly 2.5% over the same period last year.

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"Revenue, occupancy rates and profits all increased, and with everything else that’s going on or going up in Atlantic City right now, I think the industry’s future looks a little bit brighter every day,” said Matthew B. Levinson, chairman and chief executive officer of the Casino Control Commission. 

Analyst assured the results are  signs of improvement. However, Colin Mansfield, a director at Fitch Ratings Five, said casino closings have also contribute to the revenue increases.