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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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Gambling News :

HeyPoker Closing - The operator is licensed by the UK Gambling Commission and the Malta Gaming Authority, with the registering company listed as Evoke Gaming Ltd.

Can Jack Lam Make Things Right in Philippines - Lam will no doubt seriously consider the offer, having lost access to his Philippines businesses and with charges of attempted bribery and "economic sabotage" and an arrest warrant hanging over his head .

PPA Wants pre-emptive strike against RAWA - It's not just civic associations that are warning against the introduction of a federal ban on online gambling in a denial of states' rights . The Poker Players Alliance action group has begun mustering its over a million US members in a campaign as well.

UK Wants Fixed Odds Betting Terminals Changes - The group, titled FOBT All-Party Parliamentary Group plans to release its full report early in the new year, but for now has claimed that changes to FOBT regulations could help in reducing "associated crime" and problem gambling.

Sportech Wins 8 Year Old VAT case - An eight-year long, GBP 97 million VAT repayment claim dispute between Sportech PLC and HM Revenue and Customs (HMRC) has come to an end with the Supreme Court refusing HMRC permission to appeal a previous Court of Appeal ruling.

2017 MPN Poker Tour - Main Event packages, worth 1,500, are available online and players can qualify via any of the MPN participating card rooms through a variety of satellites, with buy-ins starting as low as 0.25. Each 1,500 package includes:

Realistic Games in deal with Kindred Group - The UK-based online gambling games developer Realistic Games has signed a deal to supply its games to online operator Kindred Group, parent company of quality brands that include Unibet, Stan James and Maria Casino.

Opposition to Anti Online Gambling Bill in Congress Lame Duck Session - Action groups appeal to House Appropriations Subcommittee to ensure that RAWA style language is not attached to unrelated spending bill.

DFS banning bill Introduced in Illinois - The legislative season in Illinois may be drawing to a close, but that hasn't stopped a new bid to ban daily fantasy sports from being assigned to the House Executive Committee; whether there is sufficient time to pass the bill is a matter for speculation.

Cambodia To More Closely Control Online Gambling - Cambodia, where online #gambling is operated by licensed land casinos alone, and Cambodian punters are banned from participating, is to tighten monitoring, control and management of the activity by setting up a centralized server, a Ministry of the Economy official revealed this week in a media interview.

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