Newspaper article The Record (Bergen County, NJ)

Atlantic City Casino Profits Up 20%

Newspaper article The Record (Bergen County, NJ)

Atlantic City Casino Profits Up 20%

Article excerpt

The Atlantic City casino industry boosted profits by more than 20 percent in the first half of 2016, according to figures released Monday by the state Division of Gaming Enforcement.

The improved bottom line came as total revenues for the same period barely improved, from $1.66 billion in the first half of 2015 to $1.68 billion in 2016.

"Slowly but surely, casino profits are increasing as operators in Atlantic City work to rebuild their business," said Matthew Levinson, chairman of the Casino Control Commission. "The $259 million in profits for the six months is the highest since 2010. Profits were up at six of the casinos -- and by double digits at four of them. For the first time in eight years, every casino reported positive operating income."

There were a dozen casinos in Atlantic City until four closed in 2014. …

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