Revel shows loss in first 3 months in Atlantic City
Photo courtesy Revel Entertainment
ATLANTIC CITY, N.J. (AP) -
Atlantic City's newest casino lost $35 million in its first three months of operation, while the gambling resort's other 11 casinos posted an increase in gross operating profit.
In a report issued Friday by the state Division of Gaming Enforcement, Atlantic City's casinos excluding Revel showed a 12.5% increase in profit from the same period in 2011, from $136 million to $153 million.
However, revenues at the 11 casinos fell about 8% compared to 2011's second quarter, from $855 million to $785 million.
Revel opened in early April. It reported $55 million in net revenue in the second quarter, which placed it eighth among the 12 gambling halls. Borgata Hotel Casino & Spa led with $175 million, down 4% from a year ago.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Photo courtesy Revel Entertainment
