Profits up again in slimmed-down Atlantic City casino market

Less competition has led to greater profits for most of Atlantic City's casinos that survived a painful shrinkage of the city's gambling market.

Profits are up again in a slimmed-down Atlantic

Profits are up again in a slimmed-down Atlantic City casino market. (Credit: News 12 New Jersey)

ATLANTIC CITY - Less competition has led to greater profits for most of Atlantic City's casinos that survived a painful shrinkage of the city's gambling market.

Figures released Monday by New Jersey's Gaming Enforcement Division show seven of the eight surviving casinos posted increases in gross operating profit in the second quarter of this year.

Collectively, the eight casinos posted an increase of 28.3 percent in gross operating profit, which reflects earnings before interest, taxes, and other charges.

Only the Trump Taj Mahal posted an operating loss in the quarter. It saw a $902,000 loss, compared with a nearly $1.8 million profit in the second quarter last year.

The casino is battling with its union over the elimination of key employee benefits and could soon be hit with a strike.

advertisement | advertise on News 12

Trending Video

VIDEO: Preview of PNC Art Center's summer shows 1 VIDEO: Preview of PNC Art Center's summer shows
The Jewish community center in Edison was evacuated 2 JCC in Edison temporarily evacuated after bomb threat
A water tanker has been set up at 3 City of Orange residents told to conserve water
VIDEO: Chopper 12 above North Bergen fire 4 VIDEO: Chopper 12 above North Bergen fire
Thousands of women will head to Washington D.C. 5 Thousands of NJ women head to Washington for protest

advertisement | advertise on News 12

Features

It's good to know you have Walt Kane Kane in Your Corner

It's good to know you have Walt Kane in your corner.

News 12 takes a look at the hottest Tech Check

Eric Landskroner has a look at the latest gadgets and biggest stories in tech.

News 12 On the Scene

Check out these exclusive videos from New Jersey celebs!

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE