Casino News

Profits decline in Atlantic City

2009-05-22 16:20:53

Casinos in Atlantic City saw their profits decline in the first quarter of 2009, official statistics have revealed.

According to the New Jersey Casino Control Commission, gross operating profits of $151.2 million were recorded for the three-month period.

This represented a 38 per cent decline on the same time in 2008, when profits were at $243.8 million.

Of the 11 venues in the area, the Borgata benefited from the highest profits - $47 million for the quarter - although it still saw a decline of 16.6 per cent.

Four casinos reported a loss, with these ranging from $529,000 to $8.4 million.

Meanwhile, the Borgata has announced the unveiling of a new Italian restaurant, with chef Stephen Kalt arriving to open the Fornelletto.

He has had 30 years of experience in the industry, with his previous work including the position of executive chef at Corsa Cucina, part of Wynn Las Vegas.