Atlantic City’s casinos were nearly 10% less profitable to start off this year. First-quarters earnings figures released Wednesday by New Jersey gambling regulators show only two of the nine casinos were more profitable than they were a year ago. The casinos posted a collective gross operating profit of $140.
Gamblers play cards at the Ocean Casino Resort in Atlantic City , N.J., on Tuesday, May 21, 2024. New Jersey gambling regulators released figures Wednesday, May 22, 2024, showing the gross operating profit of Atlantic City ’s nine casinos declined by nearly 10% in the first quarter of this year. Gamblers play slot machines at the Ocean Casino Resort in Atlantic City , N.J., on Tuesday, May 21, 2024.
Gross operating profit reflects earnings before interest, taxes, depreciation and other charges, and is a widely accepted measure of profitability in the Atlantic City gambling industry. Two of the casinos posted operating losses in the first quarter: Bally’s lost $2.5 million compared to an $88,000 profit a year ago, and Resorts posted a $1.2 million loss, compared to a $284,000 loss a year ago.
Among internet-only entities, Caesars Interactive Entertainment NJ was up 5.9% to $7.2 million, and Resorts Digital was down 3.2% to $7.7 million.
Hospitality And Leisure Industry General News PA State Wire Earnings NY State Wire N Financial Performance U.S. News Business Gambling F U.S. News
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