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Increase of the income for the eight remaining casinos - Atlantic City
The division of the Gaming Enforcement had announced last Monday that the income of the casinos in Atlantic City had increased of 3.5% during the first semester of 2015. However, the total of the revenue of the city had decreased of 11.8% in comparison of the same period last year when they had more casinos opened. Indeed, the city had lost three casinos in one year while two others are in bankruptcy. Last year in June, the eight casinos still operating in Atlantic City generated $ 1.65 billion against 1.6 billion last year. According to the analysts, the increase of the revenue of theses remaining casinos is due to the reduction of the offers.
The interest, taxes and other financial obligations are still included in the gross operating income of these eights casinos of the city, had increased of 27.4% to 213 millions. And after the promotional expense, the net income has also increase according to the CEO. The Borgata remains the most lucrative casinos in Atlantic City with an increase of $ 24.6 millions in net income compared to the same period last year. The Golden Nugget Hotel and Casino Resorts also occupy a prominent place in the market with an increase of net income of 26.7% and 12%. Unfortunately the income of the two bankrupt casinos had decreased in the first half of 2015. In June, the turnover of Trump Taj Mahal and Bally declined to 26.5% and 0.6%.
Source: Jack SMITH
Tuesday, 25 August 2015
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