Atlantic City's remaining casinos saw a 21% jump in operating profits for the first half of 2016, according to new state data.
The Jersey Shore resort's eight casinos had a combined profit of $259 million for the six months ending on June 30, up from $213 million in the year-ago period, New Jersey's Division of Gaming Enforcement announced late Monday. It's the best half-year profit number for Atlantic City's gambling industry since 2010, according to Matt Levinson, chairman of the New Jersey Casino Control Commission.
"For the first time in eight years, every single bricks and mortar casino reported positive operating income," said Levinson in a statement. "Slowly but surely, casino profits are increasing as operators in Atlantic City work to rebuild their business."
The Borgata Hotel Casino had the biggest jump with a 26.7% first half increase while Bally's performed the worst, with its profits down 7.7% compared to the first half of 2015. Statistics were not provided for the Trump Taj Mahal, which is slated to close down on Oct. 10.
Four of Atlantic City's 12 casinos were shuttered in 2014, which contributed to fiscal stress now facing the South Jersey municipality. City officials city have until early November to craft a recovery plan that addresses its massive debt burden or it faces a potential state takeover.