Property Types Hospitality
Atlantic City Casinos Seeing Lower Profits
May 21, 2008
Source: Philadelphia Inquirer

Times are tough for Atlantic City's casino operators, who are reporting a significant slump in their income despite an attempt to fight competition by adding new hotels, nightclubs and shopping. However, the New Jersey Casino Control Commission reports that the city's 11 casinos have seen revenue sink by as much as 10 percent year over year.

Casino operators are blaming the drag on Pennsylvania's slots parlors. The casinos produced a collective operating profit of $243.8 million in the first quarter of this year, which was down just shy of 18 percent from the same period a year earlier, according to the Philadelphia Inquirer.

 
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