Gross operating profits increase for A.C. casinos
First quarter gross profits are up for Atlantic City’s casinos.
More nongambling revenue, higher hotel occupancy and a 17 percent increase in gross profits are positives, but the first quarter numbers don’t include Revel, which opened last month.
According to the Press of Atlantic City, the New Jersey Division of Gaming Enforcement attributes the increase in part to state reforms that lowered tax rates and limited regulation. The paper has the numbers for the individual casinos, but the total increase is marked by $114.4 million is gross profits, up from $98 million in the same quarter last year.
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