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Atlantic City Had A Poor 2012

The New Jersey coastal gambling town of Atlantic City had another down year in terms of gambling profits, with 2012 numbers coming 27% lower than what the casinos brought in the year before.

All of the casinos within the city limits reported $360 million in gross gaming profits during the year, although a portion of the lower numbers can be attributed to the effects of Superstorm Sandy, which devastated the region.

Casinos bringing in profits for the year were:

  • Harrah's Resort Atlantic City, with $127 million in profits, up roughly 13% from 2011.

  • The Borgata Hotel Casino & Spa, which made just under $120 million in profit. The number is down 26% from its take in 2011.

  • Caesars Atlantic City, with a profit of $82.8 million, down a bit more than 5% from 2011.

  • Bally's Atlantic City, with profits of $61.2 million, up 25% from 2011.

  • The Showboat Casino Hotel, with profits $47.1, down 2.6% from the year before.

  • Trump Taj Mahal Casino Resort, with profits of just under $44 million, 20% lower than in 2011.

  • The Tropicana Casino and Resort, with a profit of $18 million, which is up 2% from 2011.

  • Trump Plaza, which brought in about $10 million in profits, up from a 2011 profit of $2.6 million.

Losers for the year were:

  • Revel Enterprise, which posted $110 million in operating losses. The firm is now bankrupt.

  • The Atlantic Club Casino Hotel, which reported a $19 million loss.

  • The Golden Nugget Atlantic City, which reported an $11 million loss, up from the $2.2 million loss the firm reported in 2011.

  • Resorts Casino Hotel, which reported a $7.7 million loss, down from the $12.2 million loss the casino announced it had in 2011.

2012 was the seventh straight year in which Atlantic City's revenues have declined. The beleaguered city is banking on internet gambling to help bring revenues back to the city. A bill signed into law earlier this year has legalized internet gambling, and all firms wishing to offer the cyber games must have a presence in an Atlantic City land casino. This has led to the Rational Group (owners of internet poker giant PokerStars) to attempt to purchase the Atlantic Club Casino Hotel, potentially saving thousands of jobs in the process.

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