Four casinos closed in Atlantic City in 2014 and those that remain have reaped the benefits of there being fewer places to enjoy casino gambling in this New Jersey resort. Figures recently released show that those remaining casinos in AC are up a staggering 44% on last year and this is the best news that’s come out of the beleaguered East Coast resort for quite some time.
There’s optimism now that the market has stabilized and that the closure of The Showboat Casino, The Atlantic Club, The Revel and the Trump Plaza has created a casino industry in the city that is the right size for all to be able to turn a profit, or at least stand a chance of turning one. The 8 casinos now operating had profit increases of over 12% and the feel good factor has spread to Matt Levinson the Chairman of the New Jersey Casino Control Commission who states that, “Seven of the eight reported positive gross operating profits, including three casinos where the profits increased more than 120 percent. Those profits give casinos the capital they need to reinvest in their facilities, expand their attractions, draw new customers, provide a return for investors and, most importantly, gives them the ability to create new jobs for people here.”
The Golden Nugget Casino in particular had a great 2014 with a huge increase of 144% in profits, with Resorts Casino also seeing a massive 120% boost, clearly signs things could be finally turning around for those that saw out the bad days. The Tropicana and The Borgata both saw good profits too, while the Trump Taj Mahal posted the largest operating loss. Over 8,000 jobs were lost as casinos closed and those smaller businesses around them surely suffered too, however maybe, just maybe, things are starting to look a little brighter in Atlantic City.