Editorial: At last, some blue skies over Atlantic City’s casinos
Posted in: In The News on Sunday, August 27, 2017
As five Atlantic City casinos closed from 2014 to 2016, analysts — at least those not intent on writing the resort’s obituary — postulated that the industry was simply “right-sizing” itself. That now appears to be true. Second-quarter financial reports released last week by the state Division of Gaming Enforcement show that, for the third consecutive quarter, gross operating profits at the remaining seven casinos have shown double-digit growth. Gross operating profit over the latest quarter, which ended in June, was 16.2 percent more than in the second quarter of 2016. Furthermore, year-to-date figures show that gross operating profit in the first six months of 2017 is up 20.1 percent, even without the Trump Taj Mahal, which closed in October 2016.
400,000 visitors watch Atlantic City Airshow 2017 roar over beach
Posted in: In The News on Thursday, August 24, 2017
By 11:30 a.m. Wednesday, the crowd on the beach and boardwalk all had their heads tilted up towards the sky in hopes to see the U.S. Army Golden Knights sail down towards them. It wasn’t until 11:45 a.m. that the first golden knight would descend down onto the beaches of Atlantic City to kick off the 15th annual Atlantic City Airshow. As the crowd began to roar, Ryan Reis cut through the sky at about 60 miles per hour, tugging on his parachute, slightly left and right, as he steered down to a marking on the beach where he landed perfectly. Reis was the opening ceremony for the event, and he said that the knights practiced all winter, from January to the middle of March, and that he and his team would be jumping at different events through September.
Casino Association of New Jersey Praises the Life and Legacy of Sen. Jim Whelan
Posted in: Press Releases on Wednesday, August 23, 2017
“The Casino Association of New Jersey is deeply saddened by the passing of Sen. Jim Whelan, a true visionary and innovative leader for Atlantic City and the State of New Jersey. As a councilman, mayor, teacher and state legislator, Jim spent a lifetime fighting to improve the quality of life for residents of Atlantic City, and served as a vital partner to our industry. A tireless advocate, Jim’s remarkable service to our community has left an indelible mark on this great city.” ###
Atlantic City's remaining casinos saw profits rise in second quarter
Posted in: In The News on Tuesday, August 22, 2017
The city’s casino industry is riding a winning streak. For the third consecutive quarter, the city’s seven remaining casinos reported double-digit growth in gross operating profits, according to figures from a state Division of Gaming Enforcement news release Tuesday. “Revenue, occupancy rates and profits all increased, and with everything else that’s going on or going up in Atlantic City right now, I think the industry’s future looks a little bit brighter every day,” said Matthew B. Levinson, chairman and chief executive officer of the Casino Control Commission. “They must be doing something right.” The city’s remaining casinos saw their profits increase by more than 16.2 percent during the second quarter of this year. Gross operating profits for the properties totaled $169.3 million in the second quarter, compared with $145.7 million during the second quarter of 2016.
Profits Continue to Rise for Atlantic City Casinos
Posted in: In The News on Tuesday, August 22, 2017
Atlantic City's casinos have seen their gross operating profit increase by nearly 20 percent in the first six months of this year. Figures released Tuesday by the New Jersey Division of Gaming Enforcement also show the seven casinos reported a collective second-quarter profit of $169.3 million, compared with $145.7 million in 2016. That's an increase of 16.2 percent. New Jersey Casino Control Commission Chairman Matt Levinson noted that this is the third consecutive quarter that the casinos have reported double-digit growth. The data shows gross operating profits for the year are up 19.1 percent to $308.6 million. Gross operating profit reflects earnings before interest, taxes, depreciation and other charges. It's a widely accepted measure of profitability in the gambling industry.
How Jerry Lewis' legendary partnership was born in Atlantic City
Posted in: In The News on Sunday, August 20, 2017
It happened on a warm summer evening in Atlantic City’s flagship casino showroom in 1980, but it could have just as easily been 30 years earlier. Frank Sinatra and Dean Martin had teamed up for the first time in six years, and the post-show crowd of well-wishers who packed a dressing room at Resorts International didn’t want the fun to end. And seated in the middle, beaming like a proud father, was Paul (Skinny) D’Amato, the legendary Atlantic City nightclub operator who first thought to team Martin, a suave crooner, with a tumbling, tummler comic named Jerry Lewis. Lewis, who died Sunday of natural causes in Las Vegas at age 91, was just 20 when D’Amato — who had already booked him as a $150-a-week house comic — hired Martin to be the featured singer on the bill at the old 500 Club.