Atlantic City’s remaining eight casinos are doing much better, thank you very much. Profits are up by more than 40%.
In total, there was $547 million in AC casino profits in 2015.
These are numbers just released by New Jersey Division of Gaming Enforcement. Facing less competition has been quite helpful, indeed.
Atlantic City had 12 casinos up until 2014. It was that year, when 4 casinos shut their doors.
Seven of the remaining eight saw an increase in profits, suggesting that the market has stabilized after many years of chaos.
Atlantic City Casino Profits for 2015:
- Resorts up 525% to $15.6 mil
- Golden Nugget up 396% to $22.6 mil
- Caesars up 39% to $83.4 mil
- Bally’s up 77 % to $39.9 mil
- Borgata up 36% to $216 mil
- Harrah’s up 26% to $122 mil
- Trump Taj Mahal had operating loss of $1.1 million in 2014, Taj had an operating profit of $3.1 million in 2015.
- Tropicana was down 22% to $46.4 mil
- Atlantic City hotel room occupancy rate in 2015 was 74.1%
- Caesars had highest occupancy rate at 86.6%
- Taj Mahal had lowest occupancy rate at 49.3%
- The average casino hotel room rate was $98.09
- Borgata average hotel rate was $129.06
- Resorts average hotel rate was $72.81