Casino

Atlantic City casino still more profitable than 2019 despite 13 per cent fall

Friday 25 de November 2022 / 11:35

⏱ 1 min read

(Atlantic City).- The nine casinos in Atlantic City took a dip of 13 per cent profit-wise in the third-quarter although they were all more profitable than the third quarter of 2019 before the pandemic.

Atlantic City casino still more profitable than 2019 despite 13 per cent fall

Collectively the casinos generated profit of $269.2m in the third quarter this year, which whilst a decrease of 13.4 per cent from last year, it was up from the $239.4m in Q3 2019.

Six casinos were more profitable than were in the third quarter of in 2019, although Hard Rock which generated the largest profit at over $44m was down 4.8 per cent from last year.

Tropicana generated profit of $41.m, a decrease of 13.5 per cent from a year earlier; Borgata earned just over $40m, down over 30 per cent, Ocean generated nearly $39m, an increase of five per cent; Harrah’s won $34.5m, down 21.4 per cent, Caesars earned $25.6m, down 6.9 per cent, Resorts generated $12.5m, down 22.2 per cent, Golden Nugget earned $11.5m, a dip of over 20 per cent whilst Bally’s profitability was $10.8m, an increase of 431 per cent from $2m.

Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, which studies the local gaming sector, said: “Summer 2022 faced many headwinds, from shortages in staffing and supplies to increased gas prices and inflation. Coupled with reduced overall spending and other expenses, increased wages contributed to a very challenging summer for Atlantic City’s casino operators.”

For the first three quarters of 2022, Atlantic City’s casinos have generated $608.5m, an increase of 2.7 per cent from last year.

By Phil

Categoría:Casino

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País: United States