Atlantic City posts Q3 profits

The seven casinos of Atlantic City have reported an increase in Q3 gross operating profit of almost 21% for the period ending September 2017, compared to the same period last year.

Figures released by the New Jersey Division of Gaming Enforcement show a rise of $252.5m, in addition to an occupancy rate of 95.8% for the quarter.

The Borgata was the only establishment to produce a loss, albeit of less than half a point, down to $81,843.

Tropicana was responsible for the most impressive figures, with earnings jumping from $27.6m to $46.2m representing a substantial increase of 67%.

Amongst the other significant figures produced, Golden Nugget showed a 15.4% rise to $12.8m, Caesars numbers pointed to a profit of a little over $29m, an improvement of 10.9%, and Bally’s showed a gross operating profit of $18.1m, up 10.7%.

Both Harrah’s (0.9%) and Resorts Casino (0.3%) showed increases of less than one percent, with final figures of £37.7m and $10.7m respectively.

The average room rate in Q3 was a little over £118, with Golden Nugget posting the cheapest price at a little under £93 while at a touch above the $142 mark Borgata had the highest.

Atlantic City casino’s also posted significant increases for the first nine months of the year compared to 2016, with earnings jumping up 19.8% to $561.2m and occupancy rate rising 3.5% to 89.2%.

Room rates for the first nine months of 2017 averaged out at a little over $110, Golden Nugget again the cheapest at £85.16 and Borgata at the other end of the spectrum with an average price of $134.39.

Atlantic City’s duo of internet only enterprises also enjoyed a successful third quarter, with Caesars Interactive Entertainment New Jersey (CIENJ) up 55.4% from $2.4m to $3.7m.

Resorts Digital, on the other hand, produced figures showing a mightily impressive rise, from $570,000 in 2016 to $12.1m for the same period in 2017.