VIDEO: Atlantic City Casino Profits are on the Rise
The shore resort casinos saw their collective operating profit rise by 21 percent for the first six months of the year, in a sign the struggling industry may be stabilizing. Figures released monday by the state division of gaming enforcement, show the eight casinos reported a collective second quarter profit of $259 million dollars, compared with $213 million in 2015. The New Jersey Casino Control Commission says the results show that slowly but surely profits are increasing. The surviving casinos have been doing better over the past year as they adjust to a smaller market with less competition, after four casinos closed in 2014. The gains may prove short-lived.