Atlantic City casino operators enjoy hefty profit rise for 2015
Atlantic City’s eight casino licensees generated an increased gross operating profit of 40% to $547.4m for the full year 2015.
The New Jersey Division of Gaming Enforcement, which releases gaming revenue on a monthly basis, released extended figures that include all amenities, such as rooms, food and beverage and entertainment.
While casino win declined 8% to $2.4bn, marking the ninth consecutive annual drop, six of the eight licensees generated an increased gross operating profit.
Borgata was the clear leader in this field, with its gross operating profit of $215.98m being a 36% upturn, while Harrah’s came in second with $122.7m, up 26%.
The only operator to report a gross operating profit decrease was Tropicana, with the number descending 22% to $46.4m.
Last year was the first full year of operations since four casinos closed in 2014 and the gross operating profit increase of 40% reflected the comparative performance of current operators only, but when including the four closed casinos, the increase was 61%.
Total revenue for current operators was $3.5bn, up 2%, but the total was down 8% when including closed casinos.
Total net revenue was $2.6bn, up 4% for current operators and down 6% as an industry total.
The hotel occupancy rate for casino hotels in the city was 81% and the average rate per occupied room was $102.77.
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