Jeff Blumenthal
Reporter-
Philadelphia Business Journal
Despite four of them going out of business and other troubling economic issues, Atlantic City casinos made money in 2014.
CBSPhilly.com said gross operating profits for the still open gaming halls rose last year by 44 percent. Take taxes and other expenses out and the profit margin was still 12 percent.
So what turned the tide? Roger Gros of Global Gaming Business Magazine chimes in.
“We knew that the market was over-saturated, so we’ve reduced some of the supply and the demand hasn’t gone away. So I think the profits are really the result of the four casinos closing.”
Replies:
Posted by: Dr Crapology on April 14, 2015, 10:31 pm
The Best good news from AC in a long time. Sorry to see some of the porperties close, but over all it looks like things are getting better. Look forward to seeing how 2015 turns out.
