Revel Casino Loses $35M in 3 Months

The other eleven casinos in Atlantic City all posted an increase in profits

Friday, Aug 17, 2012  |  Updated 6:10 PM EDT
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Revel Casino Loses $35M in 3 Months

NBC10 Philadelphia

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Atlantic City's newest casino lost $35 million in its first three months of operation, while the gambling resort's other 11 casinos posted an increase in gross operating profit.
 
In a report issued Friday by the state Division of Gaming Enforcement, Atlantic City's casinos excluding Revel showed a 12.5 percent increase in profit from the same period in 2011, from $136 million to $153 million.

  However, revenues at the 11 casinos fell about 8 percent compared to 2011's second quarter, from $855 million to $785 million.
 
Revel opened in early April. It reported $55 million in net revenue in the second quarter, which placed it eighth among the 12 gambling halls. Borgata Hotel Casino & Spa led with $175 million, down 4 percent from a year ago. 

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