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ATLANTIC CITY - Net revenue at Borgata Hotel Casino & Spa fell 7.2 percent to $222.6 million in the third quarter as the weak economy and competition from Pennsylvania slot parlors continue to put pressure on the Atlantic City gaming market.

However, Borgata was able to boost its gross operating profit 13 percent to $67.6 million by operating more efficiently and holding down expenses in the quarter, parent company Boyd Gaming Corp., reported today.

Borgata's operating income nearly doubled to $77 million, thanks in large part to a $28.7 million insurance settlement for a fire that damaged the 800-room Water Club hotel while it was under construction in 2007.

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