Revised numbers show A.C. casino revenue was up in second quarter

By ROI-NJ Staff
Atlantic City | Aug 23, 2018 at 11:07 am

Good news for the gaming industry in Atlantic City: Updated numbers released Wednesday by the New Jersey Division of Gaming Enforcement showed operating profits were up in the second quarter.

Second-quarter numbers originally showed profits were down.

The better news: Figures from Hard Rock Hotel & Casino and Ocean Resort Casino had little impact in the numbers, as they both opened June 28, just days before the second quarter ended. And they include little from sports betting, which opened June 14, but only at Borgata.

The casinos reported a gross operating profit of $171.4 million in the second quarter, up 1.6 percent from the same period in 2017.

Resorts recorded the largest increase (up more than 63 percent, to more than $9 million.

Borgata recorded the biggest decrease (down 20 percent, to just under $53 million — though that was still the largest profit among the casinos).

James Plousis, chairman of the New Jersey Casino Control Commission, said he views the numbers positively.

“These numbers are an improvement from the first quarter and that is a positive sign in light of the new competition that was entering the market,” he said in a statement.

“I remain optimistic that the addition of sports betting, new amenities and entertainment will continue to expand the industry.”

A look at how some of the other casinos did:

  • Harrah’s: up 20 percent; profit of $31.5 million;
  • Tropicana: up 34 percent; profit of $25.2 million;
  • Caesars: up 4 percent; profit of $24.6 million;
  • Golden Nugget: up 32 percent; profit of $14.2 million;
  • Bally’s: up 3 percent; profit of $11.7 million.
ROI-NJ Staff | editorial@roi-nj.com | @ROINJNews