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Atlantic City Casino Profits Up in H1-2016
ATLANTIC CITY CASINO PROFIT RISES IN H1-2016
Collective profit up 21 percent in the first six months of the year...the best since 2010.
Atlantic Citys remaining land casinos reported collective profits up 21 percent in the first half of 2016, indicating that the embattled industry may be stabilising following the closure of several venues.
Figures released Monday by the New Jersey Division of Gaming Enforcement show the eight remaining casinos reported a collective second-quarter profit of about $259 million, compared with $213 million in 2015.
The division also reported that operating profits for the gambling halls in the second quarter of the year were up 15 percent, at $152 million, compared with $132 million in the second quarter of 2015.
New Jersey Casino Control Commission chairman Matt Levinson told the Associated Press news agency that the results indicated that "slowly but surely" profits are increasing and are the highest for the first six-month period since 2010.
"For the first time in eight years, every single bricks and mortar casino reported positive operating income," Levinson said.
However, the positive environment may not last much longer; Associated Press notes that in November this year New Jersey voters will decide whether to end Atlantic Citys state-wide monopoly on casino gambling.
A ballot question asks voters to participate on allowing casinos in the northern part of the state at two yet-to-be-named locations near New York City, and potential licensees are lobbying and advertising heavily in the state.
Over the half-year The Borgata reported the largest rise in profit - up 27 percent year-on-year in the second quarter to $106 million, followed by Resorts (up 26 percent at $5.7 million); Tropicana (up 25 percent at $17 million); Golden Nugget (up 12 percent at $13.3 million);and Ballys (up 8 percent at $17 million).
Trump Taj Mahal (currently in line for closure) reported profits of $2 million, compared with operating losses of $9.6 million in the comparative period last year, whilst Caesars saw a decline in profits of 0.2 percent compared with 2015 to $36.5 million. and Harrahs profits were down 3 percent to $57 million.
For Internet-only operations Caesars Interactive-NJ posted a second-quarter profit of $5.2 million, compared with $857,000 a year ago. Resorts digital posted a loss of $1.4 million, compared with losses of $3 million in 2015.
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MPN Poker Tour Malta Day 1A -
The MPN Poker Tour has returned to Casino Malta this week, with a €150,000 guaranteed €500 + €50 Main Event running alongside a full complement of side events, parties and activities.
€8 million mobile jackpot win on Mega Moolah -
Mega Moolah was hit on Tuesday 25 April 2017 by a Tipico player playing on their mobile device, just over a month after a €6.6 million jackpot was collected in March. The pay-out of €8,012,153.35 is the largest mobile jackpot win in history, superseding Microgaming’s pay-out in August 2016 of €7,968,311.26.
NHL Odds: Young Oilers Face Veteran Ducks in Round Two -
Game Two in Anaheim (10:30 PM ET on NBCSN) features the first and second ranked teams in the Pacific Division during the regular season, with only two points separating them. The Oilers edged the Ducks 3-2 in regular season games, outscoring them by a slim 14-12 margin. This series will be close, and Game Two will decide who has the edge heading back to Edmonton.
Americas Card Room Online Super Series Starts Now -
The OSS Cub3d is Americas Cardroom’s 3-part tournament series. It features the Mini Online Super Series (MOSS), the now-underway Online Super Series (OSS), and the upcoming Bigger Online Super Series (BOSS).
New Quick Seat feature at Ignition Poker -
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Finnish people prefer the government to run the casinos -
Nordic countries have been, historically, the main markets for the online casino operators. The reasons for this are rather clear - these countries are very cold and people simply prefer to stay home and gamble than go outside to visit a casino.
NBA Odds: Chalk-Heavy Warriors Host Portland for Game 2 -
The Golden State Warriors needed a strong fourth quarter to put away the Portland Trail Blazers on Sunday. But they still didn’t cover as 15-point home favourites in a 121-109 victory. Can they do better this Wednesday (10:30 PM ET, TNT) in Game 2 of their first-round playoff series?
Caesar’s Triumph Slot Launches -
Caesar’s Triumph is new slot at Bovada that features the Roman dictator in all his glory. The action takes place on five reels where you’ll find 20 paylines and plenty of ways to spin your way to victory.
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