The CEO of the co-owner of the Borgata Hotel Casino & Spa says Atlantic City’s rash of casino closings last year actually helped stabilize the seaside gambling market.
Boyd Gaming CEO Keith Smith says the closure of four of Atlantic City’s 12 casinos last year helped the eight surviving ones.
During an earnings conference call Thursday, he said having eight casinos appears to be the proper supply for Atlantic City’s demand.
The Atlantic Club, Showboat, Revel and Trump Plaza all shut down last year.
Many of the remaining eight casinos have seen their revenue and earnings increase since then. Revel was purchased by a Florida developer in bankruptcy court.