As four Atlantic City casinos shut down last year, those that remained voiced optimism that their own performance would improve. Figures released Friday by the state Division of Gaming Enforcement show the surviving eight casinos saw their gross operating profits rise by 26 percent in the first quarter of this year. The casinos posted a collective operating profit of $81.3 million, up from $64.5 million in the same period last year.
The elimination of weaker casinos has left the survivors in better financial shape — the very thing casino executives said they expected during the gloom and doom of 2014.
- The Golden Nugget had biggest increase, from loss of nearly $1.8 million to a profit of more than $4 million in same period this year.
- Caesars posted a 143 percent increase in operating profit for the quarter.
- Bally’s went from operating loss of $1.5 million last year, to a profit of $4.5 million this year.
- Borgata profit rose by more than 82 percent, to $38.4 million.
- Harrah’s had 30% profit increase.
- Tropicana saw operating profit fall by nearly 93 percent, from $32 million in Q1 2014 to nearly $2.4 million this year.
- Resorts posted loss of $1.4 million, but improved over $2.3 million first-quarter loss last year.
- The Trump Taj Mahal, had operating loss balloon from $3.2 million in first quarter of 2014 to more than $8.7 million this year.