Caesars showed a profit of US$92 million, also up 19.5% from a year ago; Tropicana's profit was just a shade below US$92 million, representing a 71% increase over 2016; Bally's profit was US$42.1 million up 8.1%; the Golden Nugget had a US$40 million profit, up 38.3%; and Resorts had a US$23.1 million profit, up 23.6%.
Among internet-only entities, Resorts Digital swung to a US$14 million profit from a US$791,000 loss in 2016, and Caesars Interactive-NJ had a US$11 million profit.
James Plousis, chairman of the Casino Control Commission, says the numbers show the underlying health of the Atlantic City casino industry. "It was a very up year," he said, and noted that all seven casinos showed an increase in total revenue, adding that hotel occupancy and room rate stats are up as well.
Much of the improvement in the casinos' financial picture has to do with the fact that they are operating in s slimmed-down market, with five fewer casinos than there were at the start of 2014.
This summer, two of those shuttered casinos are due to reopen: the former Trump Taj Mahal as Hard Rock, and the former Revel as the Ocean Resort.
"The industry is on the verge of a significant expansion this summer which will create a new array of attractions and attract a lot of additional visitors to the city," Plousis said. "That expansion may put pressure on the current operators, but I think the industry is well positioned to deal with the new competition."
Source: GMB / Northjersey.com
