ATLANTIC CITY, NJ—Atlantic City's 12 operating casinos saw their collective profits fall nearly 35% last year.
The 12 operating casinos in 2013 posted a collective gross operating profit of $235 million, down from $360 million in 2012. It should be noted that the casinos' 2013 performance was compared to 2012 that saw the Jersey Shore and the casino industry adversely impacted by Hurricane Sandy. The Atlantic Club shut down in January 2014.
Atlantic City's casinos have seen their revenue and profits drop since shortly after the first Pennsylvania casino opened in late 2006. Continuing saturation of the casino market in the northeastern U.S. has battered New Jersey casinos to the tune of billions of dollars in lost revenue and thousands of lost jobs, according to the Star-Ledger.
The Tropicana Casino and Resort posted the biggest jump in earnings for 2013 with an increase of more than 47% to $26.5 million. The Borgata Hotel Casino & Spa saw its profit rise by less than 2% to $121.6 million last year. See story in the Star-Ledger.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
