Atlantic City casino profits up nearly one-fifth in 2017

Atlantic City’s seven surviving casinos saw their collective net profit jump by nearly one-fifth in the first half of 2017 despite revenue remaining relatively flat over this period.

Figures released Tuesday by the New Jersey Division of Gaming Enforcement (DGE) show total casino revenue of $1.69b in the six months ending June 30, a mere 0.6% rise over the same period last year.

However, H1 operating profit spiked 19.1% to $308.6m, although this was slightly below the 21% profit rise reported in H1 2016. For the second quarter by itself, profit was up slightly less, rising 11.1% year-on-year to $169.4m, while revenue actually fell 0.5% to $876.6m.

It should be noted that both prior-year periods featured contributions from the now shuttered Trump Taj Mahal, which closed in October 2016. The Taj was subsequently acquired by Hard Rock International, who plan to relaunch the property in summer 2018 as Hard Rock Atlantic City following a $500m music-themed makeover.