Atlantic City Casino Earnings Fell 35 Percent In 2013
By Tim Jimenez
ATLANTIC CITY, NJ (CBS) – A down year with a strong finish.
That's how New Jersey gaming officials describe the profits of the 12 Atlantic City casinos last year.
Atlantic City gaming took in $4.1 billion last year, a five percent drop from 2012, according to the state's Division of Gaming Enforcement. And when you go to the gross operating profit, a trusty barometer for officials, the arrow was pointing down 35 percent.
"[It] Shows the challenges Atlantic City continues to have," says Roger Gros, the publisher of Global Gaming Business Magazine.
"Nobody likes to see revenue and profits decline, but that's what's been happening. Atlantic City just needs to keep its head going forward when it comes to attracting non-gaming revenue," he adds.
But the report shows the casinos having a strong fourth quarter, including a 15 percent jump in food and beverage…but that's compared to the Sandy affected quarter of the year before.
As for online gaming, Gros says there are still big problems to work out but the potential remains.
"It's definitely an asset and is something that will actually, in time, bring people to Atlantic City."