Atlantic City casinos still profitable, but their bottom line is getting leaner
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
ATLANTIC CITY, N.J. (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.
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.
Figures 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. 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.
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.
