Atlantic City casino gross operating profit falls in in Q3
Atlantic City’s nine casinos and two online gaming operators generated $281.2m.
US.- Atlantic City’s nine casinos and two online gaming operators generated $281.2m in gross operating profit in Q3 2023. That’s a decrease of 7.5 per cent compared to Q3 2022, according to the New Jersey Division of Gaming Enforcement.
Although profit decreased year-on-year, the East Coast’s casinos were more profitable than Q3 2019, prior to the pandemic. This was mainly due to revenue from the two newest casinos, Hard Rock and Ocean Casino Resort. Hard Rock recorded gross operating profit of $44.3m, up less than one per cent from a year earlier. Ocean Casino Resort reported $43m, an increase of more than 10 per cent.
The Borgata registered a profit of $73.5m, down 1.7 per cent from Q3 2022. Tropicana posted $36.7m, a fall of 11.5 per cent. Harrah’s profit was down by 13 per cent to $30m. Caesars’ profit decreased 18 per cent to $21.1m. Golden Nugget had an $11m profit, down four per cent. Bally’s generated $7.3m, down over 32 per cent and Resorts $7.2m, down 43 per cent. Total revenue reached $971.8.
New Jersey gaming revenue reaches $487.1m in October
The New Jersey Division of Gaming Enforcement has reported on the state’s gaming revenue for October. The state’s casinos, horse tracks that offer sports betting and the online partners of both reported $487.1m, up 9.3 per cent from October 2022 ($445.7m).
The casino win for the nine Atlantic City casino hotel properties was $228.1m, up 3.4 per cent compared to October 2022 ($220.6m). The online gaming win was $166.8m, up 13.3 per cent year-on-year from $147.2m. Sports wagering gross revenue was $92.3m, a 18.4 per cent increase from $77.9m.
See also: Hard Rock Hotel & Casino Atlantic City raises $164,000 for American Cancer Society
