04/05/2012 : ATLANTIC CITY CASINO PROFITS SLIDE A FURTHER 7.4 PERCENT
Gross operating profits at 11 land casinos in 2011 declined to just under $495 million.
The latest New Jersey Division of Gaming Enforcement gambling stats released Wednesday reveal that Atlantic City's 11 land casinos saw gross operating profits decline by 7.4 percent in 2011, to just under $495 million.
The numbers show a marked decline from the 2010 figure of $534.6 million, with Associated Press noting that Atlantic City recently lost its status as the nation's No. 2 casino market to Pennsylvania.
Optimists pointed to the Q4-2011 improvement; over the final three months of the year, the casinos' gross operating profit increased by 26.1 percent from the same period in 2010, to $78.5 million.
However, over the full year only four of the 11 casinos showed increases in gross operating profits – Caesars Atlantic City, up 21.5 percent to $87.3 million; Trump Taj Mahal Casino Resort, up 9.1 percent to $55.3 million; the Showboat Casino Hotel, up 7.4 percent to $48.4 million, and Trump Plaza Hotel and Casino, which went from a $2.3 million operating loss in 2010 to a $2.6 million operating profit in 2011.