Casinos report drop in second-quarter net revenue, gross operating profit

TRENTON – Atlantic City casinos today reported a 7.3 percent second-quarter drop in net revenue – down to $855.1 million – compared to the second quarter of last year, according to reports filed with the Division of Gaming Enforcement.

For the quarter, casinos reported gross operating profit – before taxes, interest, depreciation and other items – of $136.3 million, an 8.5 percent decline from $149 million of last year’s second quarter.

Overall, the casino industry reported a net loss of $38.7 million for the second quarter of 2011, compared to a net loss of $15.7 million for the comparable 2010 quarter.

The Division reported that the occupancy rate in the city’s casino hotels was 86.6 percent for the second quarter of 2011, compared to 85.2 percent for the second quarter of 2010.

Financial reports: 

http://www.nj.gov/oag/ge/quarterlyfinancialrpt.html

Previous coverage:

http://www.politickernj.com/49436/three-boutique-casinos-sign-atlantic-city

http://www.politickernj.com/49664/hanson-commission-start-again

Casinos report drop in second-quarter net revenue, gross operating profit