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Atlantic City profits up 30% in Q1 2017

Gros

AtlanticCity3
s operating profits in the US east coast gambling hub Atlantic City increased year-on-year by 30.4% for the first quarter of 2017, according to the New Jersey Division of Gaming Enforcement.

Operating profit for the first four months of the year was up almost $32.5m to $139.2m, while total year-on-year revenue increased by 1.7% to $816.7m; however hotel room revenue decreased slightly from $88.4m to $83.7m.

Casino win accounted for just under 75% of total revenue at $606.2m for Q1 2017.

Caesars Atlantic City hotel and casino reported the biggest rise in total year-on-year revenue, jumping 20.7% from $88.1m in Q1 2016 to $106.3m for the first four months of 2017.

The figures do not include the Trump Taj Mahal casino, which closed in October 2016 following a protracted labour dispute, but could reopen next year following its purchase by the Hard Rock Casino Group.

Online gaming in the state also increased 29.5% year-on-year, from $61.8m in Q1 2016 to $80.1m in Q1 2017. Of the two online gaming outlets operating in New Jersey, Resorts Digital reported the largest, increasing from $4.46m in the first quarter of 2016 to $7.66m for the same period in 2017.


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