Atlantic City’s Casinos Profits Fall 63 Percent

Atlantic City's casinos saw their gross operating profits plunge by more than 63 percent in the first three months of this year.Figures released Wednesday by the state Division of Gaming Enforcement show the 12 gambling halls posted a collective gross operating profit of $41.4 million. That's down from $114.4 million in the same period last year.

Excluding Revel, which opened in April 2012, seven of Atlantic City's casinos saw their profits decline in the first quarter of this year.

Four reported an operating loss, led by Resorts Casino Hotel, which lost more than $6 million for the quarter. Others reporting losses included Trump Plaza, The Golden Nugget, and The Atlantic Club.

Gross operating profit includes earnings before interest, taxes and other charges.

(Copyright 2013 by The Associated Press.  All Rights Reserved.)