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.
Figures released Tuesday, Aug. 22, 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. 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.
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. Hard Rock posted the largest operating profit at $30.4 million, but it was still down 20% from a year earlier. 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.
Golden Nugget had a $7.6 million profit, down nearly 16%, although it discontinued reporting its internet gambling results separately during the second quarter of last year, making a true comparison difficult.
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