Casino profits in Atlantic City grow 44 percent after 4 shutdowns in a year
ATLANTIC CITY, N.J. (AP) -- Here's a rare instance of Atlantic City's rash of casino closures actually bringing some good news to the industry.
Atlantic City's casinos increased their gross operating profits by 44 percent last year, as weaker competitors fell by the wayside and shut down.
Four casinos closed last year: The Atlantic Club, Showboat, Revel and Trump Plaza. With the partial year performances of those four included, the city as a whole posted a $341 million operating profit.
The eight surviving casinos saw their operating profit increase by more than 12 percent.
Two casinos that reported losses of $10 million or more in 2013-- Resorts and the Golden Nugget -- posted profits in 2014.
The Golden Nugget had the biggest jump, of nearly 144 percent, to a $4.5 million profit.
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