Atlantic City Q3 casino earnings up nearly 21 percent

Atlantic City's casino earnings increased by nearly 21 percent in the third quarter of this year compared with a year ago, according to figures released Wednesday.

The seven casinos posted a gross operating profit of $252.5 million for the quarter, the New Jersey Division of Gaming Enforcement's numbers show.

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

Tropicana's earnings were up 67 percent for the quarter, to $46.2 million. The Golden Nugget was up 15.4 percent to $12.8 million, and Caesars was up nearly 11 percent to $29 million.

Only the Borgata posted a quarterly loss, and theirs was less than half a percent, down to $81.8 million.

Bally's was up 10.7 percent to $18.1 million; Harrah's was up just under 1 percent to $37.7 million, and Resorts was virtually flat at $10.7 million.

Among internet-only entities, Caesars Entertainment-NJ was up 55.4 percent to $3.7 million, and Resorts Digital went from a $570,000 profit in the third quarter of last year to a $'12.1 million profit in the third quarter this year.

For the first nine months of this year, Atlantic City's casinos show an operating profit of $561 million, up 19.8 percent from the same period last year.

The average Atlantic City hotel room cost $118 a night in the third quarter. The Borgata had the highest average price at $121, and the Golden Nugget had the cheapest at just under $93.

The casino hotels were mostly full during the quarter, averaging nearly 96 percent occupancy.


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