Some Good News for Business in A.C. – 11 Casinos See 2nd Qtr. Profits
With the economy in some trouble, seeing less disposable income for many, and the wake of competition for Atlantic City, any good news for business down there would be welcomed. Today’s news is not perfect, but it can be considered encouraging.
Figures released today by the Division of Gaming Enforcement show that 11 of the 12 casinos in A.C. saw a nearly 13 percent increase in gross operating profits during the second quarter compared to the same period last year. Hoa Nguyen reports for The Press of Atlantic City that the 11 casinos in the industry (not counting the newest member of the A.C. scene – Revel Resort) reported gross operating profits of $153 million.
The Press of Atlantic City also reports that Casino leaders have said that they are seeing healthy trends in non-gambling revenue. While monthly gambling revenue has been trending downward for the past five years, the industry has seen increases in gross operating profits during the past two consecutive quarters.
This news is hopefully a growing trend that can lead to a solid finish to 2012, and the beginning of the rebirth of Atlantic City into 2013.