Only four of the remaining seven casinos in Atlantic City managed to post a gross operating profit for the three months to the end of September as aggregated third-quarter total revenues dropped by 0.7% year-on-year to stand at just over $1.02 billion.
According to official figures from the New Jersey Division Of Gaming Enforcement, the Mohegan Tribal Gaming Authority-managed Resorts Casino Hotel was one of the best performing properties with its third-quarter gross operating profit improving by 21.3% year-on-year to stand at $10.74 million while total revenues rose by 6.4% to $67.33 million.
Similarly, the Golden Nugget Atlantic City, which is owned by Landry’s Incorporated, reported a 21% swell year-on-year in its third-quarter gross operating profit to $11.03 million with total revenues growing by 4.8% to reach $85.37 million.
The Tropicana Casino And Resort Atlantic City from Tropicana Entertainment Incorporated declared a 6.1% boost year-on-year in its third-quarter gross operating profit to $27.66 million from total revenues of $129.46 million, which represented an increase of some 7.4%, while MGM Resorts International’s nearby Borgata Hotel Casino And Spa detailed a 0.1% strengthening in its gross operating profit to $82.17 million with total revenues escalating by 2.3% to $310.54 million.
However, the three New Jersey properties operated by Caesars Entertainment Corporation revealed third-quarter wanes led by the firm’s Bally’s Atlantic City Hotel And Casino, which saw gross operating profit dive by 22.5% year-on-year to stand at $16.41 million while total revenues decreased by some 3.9% to $89.53 million.
Likewise, Harrah’s Resort Atlantic City posted a gross operating profit for the three months to the end of September of almost $37.41 million, which was a 10.8% deterioration year-on-year, from total revenues that were 4.5% lower at $153.03 million.
Finally, third-quarter gross operating profit at Caesars Atlantic City plummeted by 9.4% year-on-year to hit slightly over $29.48 million from total revenues that were down by 2.2% at $121.98 million.
The Trump Taj Mahal property from Trump Entertainment Resorts Incorporated closed its doors on October 10 but nonetheless reported an overall operating deficit of $5.52 million for the three months to the end of September while its total revenues for the period had declined by 28.8% to $53.75 million.
But, the news from Atlantic City is not all bad as gambling properties in the New Jersey city posted an aggregated nine-month gross operating profit of $470.78 million, which was 4.4% higher year-on-year, with total combined venue revenues improving by 0.7% to reach nearly $2.71 billion.
In addition, nine-month aggregated casino takings grew by 1.1% year-on-year to hit $1.93 billion while room revenues posted a similar rise to $320.25 million. There was also a 1.3% boost in takings from the “entertainment” segment, which included concerts, shows, spas and retail sales, to $118.14 million although food and beverage revenues fell by 1.9% to 334.96 million.
“The occupancy rate in the city’s casino hotels for the nine months ended September 2016 was 82.3%, which is 0.7 percentage points lower than the comparable period last year,” read a statement from the New Jersey Division Of Gaming Enforcement.