Atlantic City Casinos Record Excellent Growth in 2014
For a change there is good news coming out of Atlantic City as the New Jersey Division of Gaming Enforcement released some positive figures. As we have discussed in previous reports Atlantic City has a tough couple of years with many of the licensed casino being forced to close. While many saw this as a negative thing, there are many who believe that the forced downsizing was essential for a long term casino market to be viable.
This theory received some legitimacy as the DGE revealed that Atlantic City casinos recorded a 45% increase in year-on-year profits in 2014. The total operating profits of the Atlantic City Casinos rose from $235.7 million in 2014 to 4341.1 million in 2014.
The best performing casino was the Borgata which reported an operating profit of $158.5 million in 2014 which is an increase of 305 on 2013. In terms of the most growth the Tropicana came up trumps with a 125% year-on-year rise from $26.5 million in 2013 to $59.9 million in the last 12 months.
The latest figures hopefully suggest that the remaining state casinos will recover and consolidate their market share which is essential for the Garden State who are seen as leaders in the legal U.S. gambling market.