For the first time in eight years, profits up at all Atlantic City casinos

Atlantic City's eight remaining casinos

Atlantic City's eight remaining casinos

All eight bricks-and-mortar Atlantic City casinos turned a profit between April and June of this year, according to data from the New Jersey Division of Gaming Enforcement.

It’s the first time every casino in the seaside resort has been net positive at the same time in eight years.

Those numbers do not include the internet gambling arms of two city casinos.

Matthew Levinson, chairman and CEO of the Casino Control Commission, said the Atlantic City casino closings of the last few years have made it easier for the remaining companies to do well.

“Having the amount of casinos we have now compared to the 12 that we had, people are able to bring in more customers,” said Levinson. “They’re starting to rightsize themselves. Our industry as a whole [is].”

That trend could continue this fall, when Trump Taj Mahal owner Carl Icahn vows to close the casino and hotel after a strike by unionized workers.

Rummy Pandit, executive director of the Lloyd D. Levenson Institute of Gaming, Hospitality, and Tourism at Stockton University, said the gains can be attributed to effective casino management and an influx of tourists.

“People are coming. The revenues are up in the hotel area, in the gaming area, in other areas such as food and beverage and entertainment,” said Pandit. “The margins seem to be holding.”

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