Atlantic City casinos reported a 38 percent decrease in gross operating
profits in the first quarter of 2009, according to figures released Wednesday by the New
Jersey Casino Control Commission.
Gross operating profits totaled $151.2 million for the three-month period compared to
$243.8 million for the same period last year. Net revenues fell by 16.2 percent for the
period to $925.2 million.
- The Borgata led the industry with gross operating profits of
$47 million for the quarter, a
decrease of 16.6 percent.
- Harrah's reported gross operating profits of $32.7
down 15.8 percent.
- Bally's reported $27.2 million in gross operating profits, a
- Trump Taj Mahal reported gross operating profits of $20.4
decrease of 18.7 percent.
- Caesars reported gross operating profits of $19.7 million, a
48.8 percent decrease from
the same period a year ago.
- Showboat reported gross operating profits of $14.2
down 33.4 percent.
- Tropicana reported a decline of 59.6 percent to $4.8 million.
- The Trump Plaza reported a gross operating loss of $529,000
compared to a gross
operating profit of $9.6 million in the same period last year.
- Trump Marina reported a
gross operating loss of $858,000 compared to a gross operating profit of $4.8 million last
- Resorts reported a $5 million gross operating loss compared to
a $1.4 million gross
- The Atlantic City Hilton reported a gross operating loss of
million compared to a gross operating profit of $4.2 million in the same period last year.
Gross operating profit represents earnings before interest, taxes, depreciation,
amortization and charges from affiliates. After all of those other charges, the industry
reported a net loss of $94.7 million compared to a net loss of $32.6 million in the same
period last year.
The number of occupied room nights in casino hotels increased by
slightly more than 6,000 to 1.16 million, but since casino hotels had approximately 2,100
more rooms compared to a year ago, hotel occupancy fell to 75.3 percent in the first
quarter compared to 86.3 percent for the same quarter in 2008.
(Copies of individual quarterly reports are available on the Commission's web page at