Atlantic City casino profits up 31 percent

Atlantic City’s casinos saw their collective operating profit rise by 31 percent in the first three months of the year in another hopeful sign that the struggling industry may be stabilizing.

Figures released Monday by the state Division of Gaming Enforcement show the eight casinos reported a collective first-quarter profit of $106.5 million, compared with $81.3 million in the first quarter of 2015.

The Trump Taj Mahal was the only casino to post an operating loss. But even that was half of the casino’s loss in the first three months of 2015.

Matt Levinson, chairman of the New Jersey Casino Control Commission, says he expects casino profits and revenue to continue to rise as the city recovers from the shock of losing four of its 12 casinos in 2014.

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