New Jersey Results Mixed
18 August 2006
ATLANTIC CITY, New Jersey – As reported by the Press of Atlantic City: "…With the unprecedented government shutdown of the gaming industry still weeks away, gamblers packed the casinos in the second quarter to push up gross operating profits by 8.5 percent to $355.9 million.
"Net revenues rose nearly 5 percent to $1.27 billion, although net income was down 74.5 percent to $98.5 million, according to figures released Thursday by the state Casino Control Commission.
"…All but three of the 12 casinos had higher gross operating profits in the second quarter. Also known as cash flow, gross operating profit is a closely watched measure of the industry's financial health and is considered a better comparison between the casinos than net income…" |
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