Tropicana AC sees bump in gambling revenue
Tropicana Casino & Resort Atlantic City reported a 24 percent gain in net revenue last year, to $303.08 million from $244.47 million the year before, thanks largely to $55.2 million increase in gambling revenues.
Tropicana Casino & Resort Atlantic City reported a 24 percent gain in net revenue last year, to $303.08 million from $244.47 million the year before, thanks largely to $55.2 million increase in gambling revenues.
But operating profits barely budged, excluding a $31.7 million property tax refund from Atlantic City in January 2014, to $12.4 million in 2014 from $11.19 million the year before, according to Tropicana Entertainment Inc.'s annual report to investors.
Tropicana is part of investor Carl Icahn's gambling empire, which also includes casinos in Indiana, Missouri, Nevada, Louisiana, Mississippi, and Aruba. This year, Icahn is scheduled to add the bankrupt Trump Taj Mahal to his Atlantic City holdings, depending on the outcomes of bankruptcy court proceedings.
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