Borgata Revenue Increases Nearly 5 Percent in Third Quarter

ATLANTIC CITY, N.J. (Associated Press) — The Borgata's revenue increased by nearly 5 percent in the third quarter of this year, and it increased its share of Atlantic City's gambling market to 24 percent.

The figures were released Thursday by the casino's parent company, Boyd Gaming.

Company president Keith Smith says earnings before interest, taxes and other charges were $56.9 million in the third quarter, up more than 22 percent from a year ago.

The Borgata benefited from a tax settlement with the city of Atlantic City that contributed $8.1 million to earnings.

But even without the tax settlement, earnings increased by 4.7 percent as slot machine and hotel revenue increased.

Smith says the improvements began before the closings of three Atlantic City competitors this summer.

Boyd and MGM each own half the Borgata.