ATLANTIC CITY-Earnings at this city's dozen casinos continued to sag – dreadfully – during the second quarter of 2013. State regulators said revenues were down 45% for the period compared to last year.

The group of casinos had a total of $65 million in profits April-June, compared to $118 million in the same period last year, according to the state Division of Gaming Enforcement.

For the first half of the year, the casinos as a group took in less than half of what they did in the first half of 2012: $106 million, compared to $232 million.

Revel Casino Hotel, which emerged from bankruptcy in May, continues to drag down the overall statistics. It had a $40.8 million operating loss for the quarter.

Still, eight casinos did go into the black for the second quarter. Borgata Hotel Casino & Spa managed a $28.1 million operating profit. That was the highest for any casino, but for the Borgata, it was 11% less than in the same period last year. The Borgata's Joe Lupo said that profits would have increased if not for a one-time $4.3 million property-tax charge.

Caesars Atlantic City had a quarterly profit of $24.2 million, up 17.4% from last year. Tropicana Casino and Resort's profits were up nearly 28% to $12.6 million.

Five other casinos posted profits for the quarter, but in each case the revenue compared poorly with the same period in 2012. The Showboat Casino Hotel had a profit of $9.5 million, down 31% from last year's second-quarter profit of $13.8 million. Harrah's Resort Atlantic City profited by $25 million, down 27% from last year's $34.2 million quarterly profit, and Bally's Atlantic City had $10.7 million in profit, down 38% from last year's $17.3 million in Q2.

Trump Plaza Hotel Casino reported a $211,000 gross operating profit, compared to $13 million in the second quarter of 2012. Trump Taj Mahal Casino Resort had a profit of $5.6 million, compared to $21 million last year.

The four casinos that had Q2 losses in revenue were:

  • Revel, which had a significantly bigger loss for the period than in the second quarter of 2012, when it lost $35.1 million.
  • The Golden Nugget Atlantic City, $6.5 million for the quarter, almost twice the $3.5 million lost in the same period last year.
  • Resorts Casino Hotel, $1.3 million, compared to a $199,000 profit last year.
  • The Atlantic Club Casino Hotel, $2.3 million, down from an operating loss of $5.2 million in Q2 of 2012.

When hotel room, food, beverage and entertainment revenue is added to gambling receipts, the casinos' books look better. They took in a total of $1.9 billion through June this year, down about 10% from the first half of 2012.

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