Atlantic City’s casinos saw their gross operating profit increase by more than 30 percent in the first three months of 2017.
Figures released on Monday, May 22nd, by the New Jersey Division of Gaming Enforcement show the seven casinos posted an operating profit of $139.2 million in the first quarter.
That’s an increase of 30.4 percent over the same period last year.
Gross operating profit reflects earnings before interest, taxes, depreciation and other charges. It’s a widely accepted measure of profitability in the gambling industry.
Officials with the Casino Control Commission say the numbers prove Atlantic City’s casino industry is healthy again after a string of five casino shutdowns since 2014.