In the US, Atlantic City's casinos saw their gross operating profits increase by 61 per cent in the third quarter of this year.

Atlantic City

Figures released yesterday by the New Jersey Division of Gaming Enforcement show the eight casinos turned a collective profit of $237.4m in July, August and September. That's compared to the $147.5m in profit they posted in the same period last year.

"These results show that casino operations are stabilising after several difficult years," said Matt Levinson, chairman of the New Jersey Casino Control Commission. "Each of the eight casino hotels reported significant increases in the third quarter. The higher profits came from increased gaming, hotel, food and beverage revenues and reduced expenses at the properties."

The increases ranged from 41 per cent at the Tropicana to nearly 182 per cent at the Trump Taj Mahal. But the large percentage increases are more a reflection of how bad it was last year, when four Atlantic City casinos closed their doors.

The largest profit in dollar terms came at the Borgata, where operating profit was $82.1m. For the first nine months of this year, the casinos' collective gross operating profit was $450.9m, an increase of 67.5 per cent over the same period last year.

Gross operating profit reflects earnings before interest, taxes, depreciation and other charges,and is a widely accepted measure of profitability in the Atlantic City casino industry.