Atlantic City casino profits up in 3rd quarter, helped by Internet, absence of weaker casinos

Industries Associated Press

Atlantic City's casino industry saw its operating profits rise in this year's third quarter, helped by Internet gambling money and the absence of large losses racked up last year by weaker casinos.

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The casinos reported a gross operating profit of $147.5 million in July, August and September, up 7.2 percent from the same period a year ago. Those numbers include comparisons with four casinos that have since closed, some of whom racked up large losses in summer 2013.

The eight casinos currently operating in Atlantic City posted a gross operating profit of $152.3 million in the third quarter, an increase of 3.4 percent.

Gross operating profit reflects earnings before interest, taxes, depreciation and other charges, and is a widely accepted indicator of casino profitability.