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Atlantic City Profits Down 35% In 2013

Atlantic City's struggling gambling economy continued to suffer last year, as gross operating profits for 2013 were down 35% when compared to 2012.

Casinos in Atlantic City had a Gross Operating Profit of just $235 million last year, which is down from $360 million that was brought in during 2012.

On the bright side of things, the fourth quarter was not as brutal to Atlantic City as it was during 2012. The area was spared another big hurricane, and casinos lost just $5.7 million during the quarter, which was much better than the $21.6 million hit that the casinos took in the fourth quarter of 2012.

For the year, only two casinos had a better year than 2011, with the Tropicana Casino and Resort seeing revenue increases of 47% ($26.5 million), while the Borgata Hotel Casino & Spa brought in an extra 2% over 2012.

It is currently unknown what impact New Jersey's online gambling market will have on the gambling economy as a whole, but looking at these current numbers, it is certain that the activity couldn't make things any worse.