Revenues from Atlantic City's casinos plummet by 45%
In the heart of 2013, the casino industry in Atlantic City faced a challenging period. A drop in revenues of 45 percent was reported by 12 casinos in the city during the second quarter of that year. This decline was substantial, as the profits for the same period in 2012 stood at nearly $118 million. In contrast, the casinos made just over $65 million in profits during the second quarter of 2013. The drop in revenues amounted to approximately $53 million. Four out of the 12 casinos experienced losses in the months of April, May, and June in 2013. However, some casinos managed to weather the storm better than others. Caesars Atlantic City, for instance, saw a slight increase in profits, with profits rising from $20.6 million in 2012 to $24.2 million in 2013. Tropicana Casino, on the other hand, reported a more significant increase, with profits rising by 28 percent in the second quarter of 2013, amounting to $12.6 million. Despite these increases, the overall profits for the casinos in Atlantic City during the second quarter of 2013 were still lower than the profits for the same period in 2012. Unfortunately, the search results do not provide information about the name of a casino that achieved the highest profit increases in the second quarter of 2013 compared to 2012. State regulators reported the figures, but further details about individual casino performances remain elusive. The drop in revenues was a significant blow to the casino industry in Atlantic City, a city heavily reliant on tourism and gaming revenues. The reasons behind this decline are likely to be multifaceted, ranging from increased competition to economic factors. As the industry strives to recover, it remains to be seen how the casinos will adapt and respond to these challenges. The future of Atlantic City's casino industry hangs in the balance, with the hope that better days lie ahead.
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