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Atlantic City Revenues up in September 2014
Tuesday November 25,2014 : ATLANTIC CITY PROFITS UP IN THIRD QUARTER
Internet revenues and the absence of losses from failed land casinos see a 7.2 percent rise.
The absence of losses from failed land casinos, along with the new revenues from online gambling launched a year ago, have helped Atlantic City gambling venues to achieve a 7.2 percent rise to $147.5 million in gross operating profit in the third quarter ended September 2014.
Associated Press reports that the numbers include comparisons with four casinos that incurred substantial losses and have since closed.
Taken in isolation, the eight Atlantic City casinos currently operating posted a 3.4 percent increase in gross operating profit to $152.3 million in Q3-2014.
But for the first nine months of 2014, the eight casinos still operating reported an operating profit of $319 million, down 1.5 percent from the corresponding period last year.
Resorts Casino Hotel - an operation with which Pokerstars is hoping to partner if it can achieve New Jersey licensing - posted the largest rise in gross operating profit at $4.9 million, up nearly 600 percent from the $708,000 it earned in the third quarter of last year.
The other success story in the quarter was the Golden Nugget, which delivered a Q3 operating profit of $5.6 million, up 165 percent from the third quarter of last year.
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
NYX Gaming in deal with Endemol -
"Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”
NEW CAMBODIAN GAMBLING LAWS -
After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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