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All 8 Atlantic City Casinos Report Profit in 2015

Friday April 8,2016 : THINGS ARE LOOKING UP FOR REMAINING ATLANTIC CITY CASINOS
 
All eight land operators report return to profit in 2015.
 
The Press of Atlantic City reports that figures released Thursday by the New Jersey Division of Gaming Enforcement show that in 2015 all eight surviving Atlantic City land casinos returned operating profits.
 
Collectively, the eight casinos saw operating profit increase 40 percent last year, reporting $547 million in gross operating profit in 2015, up from $390 million in 2014.
 
“To me, that’s an indication that the market is stabilizing after several years of turmoil,” Casino Control Commission Chairman Matthew Levinson commented in a statement.
 
The Press of Atlantic City points out that gross operating profit is a key measure of casino performance that takes into account many of the short-term costs of casino operation - paying for supplies and employees, for example -  but excludes some larger expenses, such as taxes.
 
The eight survivors have benefitted from the closure of four casinos back in 2014.
 
Notable among the results was that from Resorts Casino Hotel, the smallest of the AC casinos, which reported a five-fold increase in gross operating profit to $15.6 million in 2015 compared with 2014.
 
The Borgata Casino Hotel & Spa also saw stellar improvements, realising $216 million in gross operating profits - a year-on-year rise of 36 percent.
 
The regulator reported that gambling revenue increased 3.1 percent overall to $2.5 billion in 2015 among the city’s eight extant operators.
 
However, the regulator cautioned against complacency, noting that "industry total" - numbers including the 2014 results from the four failed casinos - are less pleasing in comparative terms.
 
From that perspective casino revenue actually declined 6.5 percent in 2015, room revenue was down 14.1 percent, food and beverage sales dropped 9.1 percent, and entertainment and miscellaneous revenue slid 15.9 percent.



Gambling News :

Games Concept Day in Malta - The Quickfire Games Concept Day is the second full-day workshop to date, the first being held in Gibraltar in July.

AFC’s fight against match-fixing - The Asian Football Confederation (AFC) has introduced a new AFC integrity mobile application, which will enable fans, players and officials to report possible suspicious activities or provide information concerning match-fixing or corruption to the AFC Integrity Unit.

PartyPoker Removes Dormant Account Fees - partypoker today announced that players will no longer be charged fees for inactivity on their online accounts.

NHL Odds: Rangers Look for Seventh Straight in Chicago - The Chicago Blackhawks (8-8-2) will try to get their season on track this Wednesday when they host the surging New York Rangers (9-7-2) in an Original Six showdown. NBCSN has the coverage beginning at 8 PM ET.

ACR $1,400,000 High Five Tournament Series - It has five added tournaments a day for five straight days, with the $420k Main Event on the final day. There are Texas hold’em and PLO game types, and tons of structures.a

Microgaming named in The 10 coolest offices of 2017 - Microgaming named in The 10 coolest offices of 2017 Microgaming’s new HQ has been named in ‘The 10 coolest offices of 2017*’ in the UK, featuring alongside some of the biggest consumer brands.

$75K Win on Mobile Slot @ CafeCasino - Café Casino’s mobile slot, Achilles, paid out in a big way over the weekend. A player from Pennsylvania, Rob J., triggered the game’s free spins mode by landing three scatters.

Microgaming’s The Phantom of the Opera online slot live today - Available to Microgaming and Quickfire operators, The Phantom of the Opera online slot goes live Wednesday 1 November 2017.

2017 Punta Cana Poker Classic Results - The 2017 Punta Cana Poker Classic is now in the books and players are returning home after a week-long poker celebration. And after a major final table deal, two players have the most reason to celebrate. Roberto Carvallo ultimately won the tournament after negotiating a final table deal with Jamin Stokes.

NHL Odds: Winnipeg Jets vs. Minnesota Wild - Blake Wheeler and the Winnipeg Jets will attempt to get two points closer to the Central Division lead on Tuesday, as they take on the Minnesota Wild on the road. The Jets have started strong, and sit in second place in their division. Led by RW Blake Wheeler, the Jets look like a team that could make some noise in the West this season.

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