{"id":4573,"date":"2017-05-25T02:35:33","date_gmt":"2017-05-25T07:35:33","guid":{"rendered":"https:\/\/www.onlinepokeramerica.com\/?p=4573"},"modified":"2017-05-25T02:35:33","modified_gmt":"2017-05-25T07:35:33","slug":"atlantic-city-casinos-profit-up-by-30-in-q1-of-2017","status":"publish","type":"post","link":"https:\/\/www.onlinepokeramerica.com\/news\/atlantic-city-casinos-profit-up-by-30-in-q1-of-2017\/","title":{"rendered":"Atlantic City Casinos Profit Up By 30% In Q1 of 2017"},"content":{"rendered":"<div class=\"featured-caption\"><img decoding=\"async\" src=\"https:\/\/www.onlinepokeramerica.com\/news\/wp-content\/uploads\/sites\/2\/2017\/05\/Atlantic-City-atlanticcitynj.com767px.jpg\" alt=\"Atlantic City Casinos Profit\" \/>(Credit: Photo courtesy of Atlanticcitynj.com)<\/div>\n<h2 id=\"atlantic-citys-casinos-are-healthy-once-again\">Atlantic City\u2019s casinos are healthy once again!<\/h2>\n<p>After the closure of 5 of 12 casinos in 2014, the seaside gambling resort has been on an uphill battle ever since. After 3 years of hard work, the seven surviving casinos can finally breath a sigh of relief, as gross operating profits for Atlantic City\u2019s casino industry were $139.2 million during Q1 of 2017. Thats an increase of 30{c118e36310c7bc75bef8f724f80ee0a52cfaf44be22f7e80906142f4c81518da} compared to the same time last year. This was the latest news in a series of positive financial reports, and resulted in a top New Jersey gambling regulator to make a bold proclamation \u201cAtlantic City\u2019s casinos are healthy once again.\u201d<\/p>\n<blockquote><p>&#8220;If there were any doubt about the health of Atlantic City&#8217;s casino industry, these results should lay them to rest,\u2019 said Matt Levinson, chairman of the New Jersey Casino Control Commission. &#8220;It&#8217;s clear to me that the industry has stabilized and operators are showing healthier bottom lines. With the summer upon us, there are a host of concerts, festivals and other events over the next several months that should help casinos continue to grow.&#8221;\n<\/p><\/blockquote>\n<p>Out of the seven casinos, the Borgata had the highest operating profit at $61.4 million, which was an increase of almost 29{c118e36310c7bc75bef8f724f80ee0a52cfaf44be22f7e80906142f4c81518da} from the same period the year before. Taking second place with an operating profit of $23.7 million was Harrah, which was actually a decrease of 11.3{c118e36310c7bc75bef8f724f80ee0a52cfaf44be22f7e80906142f4c81518da} compared to this time last year. Caesars made the 3rd most operating profit at $20.1 million which was up 31.6{c118e36310c7bc75bef8f724f80ee0a52cfaf44be22f7e80906142f4c81518da} from Q1 of 2016. <\/p>\n<p>The 4th most operating profit generated was by the Tropicana, who had more than double the previous year\u2019s Q1 report to reach $16.2 million. Making less than the previous year was The Golden Nugget, who was down 7.7{c118e36310c7bc75bef8f724f80ee0a52cfaf44be22f7e80906142f4c81518da} from the previous year, totalling up $6.2 million. The worst performing casino interns of operating profit compared to previous year was Bally, who was down 19.9{c118e36310c7bc75bef8f724f80ee0a52cfaf44be22f7e80906142f4c81518da}, coming in at $4.5 million. The least operating profit made of $4 million by Resorts was in fact the biggest improvement from the previous year, which was nearly an increase of 1000{c118e36310c7bc75bef8f724f80ee0a52cfaf44be22f7e80906142f4c81518da}. <\/p>\n<p>In total, the casinos took in $816.7 million for the first 3 months of the year, an increase of 1.7{c118e36310c7bc75bef8f724f80ee0a52cfaf44be22f7e80906142f4c81518da} compared to the $803.1 million from the same period the year before. <\/p>\n<p>Hotel rooms accounted for $83.7 million, of which most was generated by The Borgata, a decrease of 5.3{c118e36310c7bc75bef8f724f80ee0a52cfaf44be22f7e80906142f4c81518da} from $88.4 million in previous year. Resorts had the highest occupancy rate for the quarter at 88.7 percent, while the Golden Nugget had the lowest at 71.8 percent. <\/p>\n<p>Casino win accounted for 74{c118e36310c7bc75bef8f724f80ee0a52cfaf44be22f7e80906142f4c81518da} of the total Atlantic City casino industry revenue in Q1, compared to the 40{c118e36310c7bc75bef8f724f80ee0a52cfaf44be22f7e80906142f4c81518da} contribution by Las Vegas casinos to total revenue. <\/p>\n","protected":false},"excerpt":{"rendered":"(Credit: Photo courtesy of Atlanticcitynj.com) Atlantic City\u2019s casinos are healthy once again! After the closure of 5 of 12 casinos in 2014, the seaside gambling resort has been on an uphill battle ever since. After 3 years of hard work, the seven surviving casinos can finally breath a sigh of relief, as gross operating profits [&hellip;]","protected":false},"author":6,"featured_media":4569,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-4573","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-headline"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Atlantic City Casinos Profit Up By 30% In Q1 of 2017 - Online Poker America News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.onlinepokeramerica.com\/news\/atlantic-city-casinos-profit-up-by-30-in-q1-of-2017\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Atlantic City Casinos Profit Up By 30% In Q1 of 2017 - Online Poker America News\" \/>\n<meta property=\"og:description\" content=\"(Credit: Photo courtesy of Atlanticcitynj.com) Atlantic City\u2019s casinos are healthy once again! After the closure of 5 of 12 casinos in 2014, the seaside gambling resort has been on an uphill battle ever since. After 3 years of hard work, the seven surviving casinos can finally breath a sigh of relief, as gross operating profits [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.onlinepokeramerica.com\/news\/atlantic-city-casinos-profit-up-by-30-in-q1-of-2017\/\" \/>\n<meta property=\"og:site_name\" content=\"Online Poker America News\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-25T07:35:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.onlinepokeramerica.com\/news\/wp-content\/uploads\/sites\/2\/2017\/05\/Atlantic-City-atlanticcitynj.com266px.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"266\" \/>\n\t<meta property=\"og:image:height\" content=\"170\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Kate Barrington\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@kencokate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kate Barrington\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.onlinepokeramerica.com\/news\/atlantic-city-casinos-profit-up-by-30-in-q1-of-2017\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.onlinepokeramerica.com\/news\/atlantic-city-casinos-profit-up-by-30-in-q1-of-2017\/\"},\"author\":{\"name\":\"Kate Barrington\",\"@id\":\"https:\/\/www.onlinepokeramerica.com\/news\/#\/schema\/person\/3fea0d80362912dbf8c03b7407d01323\"},\"headline\":\"Atlantic City Casinos Profit Up By 30% In Q1 of 2017\",\"datePublished\":\"2017-05-25T07:35:33+00:00\",\"dateModified\":\"2017-05-25T07:35:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.onlinepokeramerica.com\/news\/atlantic-city-casinos-profit-up-by-30-in-q1-of-2017\/\"},\"wordCount\":619,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.onlinepokeramerica.com\/news\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.onlinepokeramerica.com\/news\/atlantic-city-casinos-profit-up-by-30-in-q1-of-2017\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.onlinepokeramerica.com\/news\/wp-content\/uploads\/sites\/2\/2017\/05\/Atlantic-City-atlanticcitynj.com266px.jpg\",\"articleSection\":[\"Headline\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.onlinepokeramerica.com\/news\/atlantic-city-casinos-profit-up-by-30-in-q1-of-2017\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.onlinepokeramerica.com\/news\/atlantic-city-casinos-profit-up-by-30-in-q1-of-2017\/\",\"url\":\"https:\/\/www.onlinepokeramerica.com\/news\/atlantic-city-casinos-profit-up-by-30-in-q1-of-2017\/\",\"name\":\"Atlantic City Casinos Profit Up By 30% In Q1 of 2017 - 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