Atlantic City casino profits up 21 percent in first half of 2016
Atlantic City’s casinos saw their collective operating profit rise by 21 percent for the first six months of the year in a sign the struggling industry may be stabilizing.
Figures released Monday by the state Division of Gaming Enforcement show the eight casinos reported a collective second-quarter profit of $259 million, compared with $213 million in 2015.
New Jersey Casino Control Commission Chairman Matt Levinson said the results show that “slowly but surely” profits are increasing.
The surviving casinos have been doing better over the past year as they adjust to a smaller market with less competition.The gains may prove short-lived.
Voters in November will decide whether to end Atlantic City’s statewide monopoly on casino gambling and allow casinos in the northern part of the state.
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