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Atlantic City Casinos Rebound in First Half

Atlantic City's casino industry rebounded in the first half of 2016, as the New Jersey Division of Gaming Enforcement revealed that the casinos had a profit of $259 million for the half, surging 21% from the same period last year.

The numbers cover the remaining eight casinos and show that the casino industry is having its best year since 2010, while gambling halls were also performing well, as their revenues were up 15% to $152 million. The most successful casino for the half was The Borgata, which saw profits surge 27% to $106 million, while the Resorts Casino was up 26% to $5.7 million, the Tropicana was up 25% to $17 million, the Golden Nugget was up 12% to $13.3 million, and Bally's was up 8% to $17 million. The Trump Taj Mahal had profits of $2 million, while Caesars was down 0.2% to $36.5 million, and Harrah's were down 3% to $57 million.

Commenting on the results New Jersey Casino Control Commission Chairman Matt Levinson said, "For the first time in eight years, every single bricks and mortar casino reported positive operating income."

A few factors could change the good times in Atlantic City, with the Trump Taj Mahal set to close in October, while voters will decide on a measure to expand the state's casinos outside of Atlantic City in November.

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bgsharpe
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2 September 2016 - 8:41pm
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It's more than great news for Atlantic City's casino industry, it's a huge increase compared with last year's numbers and that just shows the potential land based industry still has.

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