Atlantic City Casino Profits Decline in Third Quarter

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ATLANTIC CITY, N.J. -

Despite two new casinos opening, Atlantic City's casino industry saw a decrease in revenue in the third quarter.

Figures released on Friday, November 23rd, by New Jersey Division of Gaming Enforcement officials show that the city's nine casinos collectively saw their gross operating profits decline by 15.3 percent in July, August, and September compared with the same period a year ago.

This was the first full quarter the Hard Rock and the Ocean Resort casinos were in operation, and the competition took its toll on most of the other seven casinos.

Only the Golden Nugget and Bally's reported an increase in profits.

The Hard Rock made an $8.2 million profit, while Ocean Resort had $1.4 million in profits.

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