Bally's Atlantic City Casino Relationship Survey

Those three casinos were the only ones to earn more in the second quarter this year than they did in the same pre-pandemic period of 2019. Tropicana had a profit of nearly $25 million, down nearly 18%, and the Ocean casino had a profit of nearly $24 million - up nearly 54% from a year earlier. Hard Rock posted the largest operating profit at $30.4 million, but it was still down 20% from a year earlier. The casinos currently employ about 1,000 more people than they did a year ago, he said. The fact that all nine casinos were profitable despite higher costs is encouraging, said James Plousis, chairman of the New Jersey Casino Control Commission. “Given the increases in labor expenses that did not exist prior to July 2022 and increases in operational expenses overall, this decline is not unexpected,” she said. Its decline in the second quarter is due to several factors, including a new contract reached last summer that pays many casino workers considerably more, said Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, which studies the Atlantic City gambling industry. Gross operating profit represents earnings before interest, taxes, depreciation, and other expenses, and is a widely-accepted measure of profitability in the Atlantic City casino industry. That is down 20.5% from the same period a year ago, and also less than the $159 million operating profit they posted in the second quarter of 2019. Only three casinos and one online entity recorded a larger profit in April, May and June of this year than they did in those same months in 2019, before the pandemic hit.įigures released Tuesday by the New Jersey Division of Gaming Enforcement show the casinos posted a gross operating profit of nearly $146 million in the second quarter of this year. (AP) - All nine Atlantic City casinos turned a profit in the second quarter of this year, although that collective profit was down more than 20% from a year ago.

Bally's Atlantic City Casino Relationship Survey