45% growth in total operating profit for casinos in Atlantic City.
The New Jersey Division of Gaming Enforcement (DGE) has disclosed that casinos operating in the Atlantic City region of the US state actually had a good year in 2014 as profits seemed to have soared significantly when compared to the same period in 2013. This may come as a surprise as US gambling news gave depressing reports in 2014 about Atlantic City’s doomed gambling operators.
According to numbers divulged by the regulatory body, total operating profit for casinos in Atlantic City rose to $341.1 million in 2014. This figure depicts a 45% increase, up from a low the $235.7 million that was recorded 12 months earlier, in 2013.
Year-on-year jump in profit during 2014 for 2 major casinos
The Borgata, for example boasted an operating profit of $158.5 million in 2014, up 30% in 2013 and is considered the City’s most successful hotel currently up and running. Sad to say though, that the Tropicana whose laudable accelerated growth was mirrored in its operating profits which soared to 125% year-on-year from $26.5 million in 2013 to $59.9 million in 2014, year end,still couldn’t reach the 3 figures that Borgata has produced.
Nevertheless, what counts is that these figures give the impression that Atlantic City’s dying casino industry is set for a surprising comeback. This good news comes after 4 of 12 casinos closed down throughout the whole of 2014, leaving many people unemployed and which set off an alarm bell for the US gambling laws to implement changes and allow operators the chance to succeed.