SEARCH NEWS:

 

Resorts Atlantic City Results Dip Again

ATLANTIC CITY, New Jersey – As reported by the Press of Atlantic City: "Resorts Atlantic City reported another 'no pain, no gain' quarter, with earnings hammered by the effects of its major expansion project.

"Fourth-quarter cash flow fell 63 percent, to $1.7 million, on net revenue of $44 million, down 15 percent, the casino hotel reported Monday. Its net loss worsened to $4.3 million, compared to a net loss of $2.6 million a year earlier.

"For the year, Resorts lost $1.3 million.

"Resorts President Audrey Oswell said the results were expected, given the loss of 166 hotel rooms and more than 100 slot machines.

"…Resorts is on budget and on time to open a $115 million hotel and casino expansion in June, Oswell said…"

< Gaming News