The first quarter of the year looks to be very good for the casino industry in the Atlantic City.
The industry has recorded $139.2 million gross operating profit during the first quarter of 2017. This is a very good figure and what this amount means is that the casino industry has seen a growth rate of 30% when compared to its gross profits for the first quarter in 2016.
There is a boost in the earnings and collections overall in the casino industry. The amount collected by the casinos from Jan 1 to March 31 of 2017 is $816.7 million and the cash collected through casinos for the same period in 2016 was $803.1 million. This means that there is an increase of 1.7% cash take in this year than the last year for the first quarter period. The wins at the casino also have increased and this year it is $602 million of the total cash revenue, which is an increase of about 4% from the last year. Continue reading “Atlantic City Casino Industry Shows 30% First Quarter Profit”