After an unsettling year that included the closing of four Atlantic City casinos, recently released statistics showed that the remaining Atlantic City casinos posted significant profits and increased occupancy rates for hotel rooms. Thanks to significant gains at Golden Nugget Atlantic City, Tropicana Casino and Resort, Borgata Hotel Casino & Spa, and Resorts Casino Hotel, Atlantic City’s gambling industry posted a more than $340 million gross operating profit in 2014. The number represents a 45 percent increase over 2013. Borgata led the market with more than $158 million in earnings, a 30 percent increase over 2013. The average hotel occupancy rate across Atlantic City increased more than 3 percent.
Some local industry leaders attribute the gains to fewer casinos and hotels, which translates into less competition. However, others said that profits are allowing property owners to invest in upgrades and new attractions. Matthew Levinson, New Jersey Casino Control Commission chairman, told a news outlet that the strong profits would bring more jobs and economic revitalization to Atlantic City.