ATLANTIC CITY, N.J. — Heaping on the bad news, Atlantic City's 11 gambling halls are reporting first-quarter gross operating profits 38 percent lower than in 2008.

The casinos earned $151.2 million in all the first three months of 2009, compared with $243.8 million in the same period last year. Their net revenues fell 16.2 percent to $925.2 million for the period.

The Borgata Hotel Casino & Spa led the city with gross operating profit of $47 million for the quarter, but that was still 16.6 percent below the first quarter of 2008.

Atlantic City is in the third year of a revenue decline that began when slots parlors started opening in the Philadelphia and New York City suburbs.

ATLANTA — Home Depot said fiscal first-quarter profit climbed 44 percent on fewer charges and the nation's largest home improvement retailer beat Wall Street's expectations despite lower sales.The Atlanta-based company earned $514 million, or 30 cents per share, for the quarter ended May 3, compared with $356 million, or 21 cents per share, a year ago.Adjusted profit, which excludes results from its now closed Expo business, was 35 cents per share. Analysts predicted earnings of 29 cents per share. Prior-year results included $543 million in charges.Sales dropped 10 percent to $16.18 billion but still beat analysts' forecast of $15.86 billion.