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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.
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GAN Partners with Station Casinos -
B2B online gaming company GAN (formerly Game Account Network) has revealed Station Casinos as its previously unidentified partner in an announcement made August 2016
Oceanís Call Slot Launches -
Online gambling games developer Habanero has embarked on a journey across the high seas to bring players its latest HTML5 high resolution slot title, Oceanís Call.
Big Names Playing WCOOP -
The big names came out to play in the closing stages of the World Championship of Online Poker this week as major prizes were handed out in a number of exciting and entertaining competitions.
Sirplay to Open Argentina Branch -
#SirPlay expects the new office to be fully operational by early next year, extending its service to Grupo Slots, which holds a license to operate the provincial San Luis Lottery, and other potential LatAm clients.
DFS Changes for Ohio -
#dfs Coley says that at present DFS is an example of the "pools for profit" concept, the rules for which the state Attorney General has opined are unclear in relation to DFS.
New Jersey Teams Up With Kahnawake Gaming Commission -
The New Jersey Division of Gaming Enforcement and the Kahnawake Gaming Commission have agreed to collaborate in preventing unlicensed online operators from accepting bets from New Jersey and other U.S. states through the Continent 8 data centre situated on tribal land, according to reports Tuesday from the Associated Press news agency.
Petition to Ban Online Gaming in Singapore -
Singapore Pools and Singapore Turf Clubís application to operate online betting has triggered the origination of a petition that calls on the Government to deny authorization and stop legalization of online gambling.
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