Q1 casino earnings decrease in Atlantic City
While the seven casinos remained profitable during the three-month period, the numbers decreased from 2017.
US.- Numbers released by the New Jersey Casino Control Commission revealed that Atlantic City’s seven casinos posted a gross operating profit of US$123.6 million during the first quarter of the year, 11.7 per cent less than the first three months of 2017.
While all facilities are currently profitable, the results are significant as it is still unknown if the two casinos that are expected to open next month will expand the market to a sustainable size. June 28th will see the former Trump Taj Mahal reopen as Hard Rock Hotel & Casino Atlantic City, and the former Revel casino reopen as Ocean Resort.
Total gaming revenue for the month of April was US$214.4 million, which represents a 1.3 per cent increase when compared to the same period last year. The highest-grossing property was Borgata Hotel Casino & Spa, as it generated US$57.7 million, even if it represented a 7.9 per cent decrease over April 2017. On the other hand, Resorts Casino Hotel saw the largest improvement with an impressive 23.3 per cent increase, to US$17.2 million, up from the US$13.9 million registered in April 2017.
