AC Casinos See Profit Increase
The 11 Atlantic City casinos that were in operation last summer saw their profits increase by 2.3 percent in the third quarter of this year.
The comparison includes August 2011, when Tropical Storm Irene forced the casinos to close for three days.
Without Revel, which didn’t open until April of this year, the other 11 casinos reported a gross operating profit of $186.4 million.
For the first nine months of 2012, gross operating profit excluding Revel was nearly $454 million, up 9 percent from the same period last year. Revel, which has struggled since it opened, reported a gross operating loss of nearly $37 million for the quarter.
The third-quarter figures represent the three months before Superstorm Sandy hit and forced the casinos to close for five to seven days.
(Copyright 2012 by The Associated Press. All Rights Reserved.)