Poll

10 votes (27.02%)
1 vote (2.7%)
No votes (0%)
No votes (0%)
No votes (0%)
8 votes (21.62%)
1 vote (2.7%)
2 votes (5.4%)
23 votes (62.16%)
2 votes (5.4%)

37 members have voted

SanchoPanza
SanchoPanza
Joined: May 10, 2010
  • Threads: 34
  • Posts: 3479
August 25th, 2013 at 1:07:12 PM permalink
A brutal second quarter:
Posted: Friday, August 23, 2013 2:00 am

Eight of Atlantic City’s 12 casino hotels turned a profit in the second quarter of 2013, with Tropicana Casino and Resort and Caesars Atlantic City showing the most striking numbers. Tropicana’s operating profits rose 28 percent to $12.6 million, while Caesars was up 17 percent to $24.3 million.

Six other casinos also ended in the black for the second quarter, although at each of those properties operating profits dipped by double digits compared to a year ago. Overall, gross operating profits for all Atlantic City casinos came in at $65 million, down 45 percent compared with $117.9 million in the second quarter a year ago, according to figures released Thursday by the New Jersey Division of Gaming Enforcement. . . .

Of the gainers, Trump Plaza Hotel and Casino struggled the most, eking out a $211,000 profit compared to $13.1 million a year ago. Sister property Trump Taj Mahal Casino Resort posted a $5.6 million operating profit, down 73 percent from nearly $21 million in the second quarter of 2012. Revel Casino-Hotel, the Atlantic Club Casino Hotel, Golden Nugget Atlantic City and Resorts Casino Hotel each suffered losses in the second quarter. In Revel’s case, its nearly $41 million operating loss was the biggest for the industry. Last year, Revel had a $35.2 million loss in the second quarter. . . .

For the first half of 2013, the casinos’ gross operating profits are down more than 50 percent — coming in at $106.5 million, compared with $232.3 million in the same period a year ago. acpress
kewlj
kewlj
Joined: Apr 17, 2012
  • Threads: 212
  • Posts: 4299
August 25th, 2013 at 1:29:06 PM permalink
Quote: SanchoPanza



For the first half of 2013, the casinos’ gross operating profits are down more than 50 percent — coming in at $106.5 million, compared with $232.3 million in the same period a year ago. acpress



Atlantic City??? Is that place still afloat and operating? I thought it was reduced to the backdrop for old movies. Lol

Now those numbers quoted, ad bad as they are only offer a narrow look at the real decline. Those numbers of decline are compared to last years numbers, which were down from the year before, which were down from the year before, and so on. If we compare current numbers to what, 10 years ago, before neighboring states and the economy really crushed AC, the decline in numbers is staggering. Really makes you wonder how the place IS still operating.

Just coincidentally, as far as timing, there was a post on another site (blackjack) just this morning from a regular AC player who is in AC this very weekend, who claims AC was as busy this weekend as he has seen it in years. Apparently there is quite a big high end blackjack promotion taking place at Caesar's this weekend only, (72 hours), which hadn't been over publisized and I guess went off as planned. Lol. This poster claims the spillover of high end players at other properties throughout the town. Haven't confirmed any of this, but that was his report.
AceCrAAckers
AceCrAAckers
Joined: Jul 12, 2011
  • Threads: 30
  • Posts: 377
August 26th, 2013 at 8:38:36 AM permalink
In order for casinos to make a profit, players has to lose. If players lose less, and few of these properties go under, how is this a bad thing?

My vote is for Revel, followed by the Plaza to go under.
Edward Snowden is not the criminal, the government is for violating the constitution!

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