Atlantic City casino revenues fall 37% in Q3
Casinos brought in $150.5m in the third quarter, down from $239.7m in 2019.
US.- The New Jersey Division of Gaming Enforcement (DGE) has released results for the third quarter showing a 37.2 per cent decline in revenues from Atlantic City casinos year-on-year.
Casinos collectively brought in $150.5m in the third quarter, down from the $239.7m generated during the same period in 2019.
The DGE said numbers were not comparable to 2019 due to the operating restrictions currently in place owing to the Covid-19 pandemic.
Out of the 11 properties listed in Atlantic City, only the Ocean Casino Resort increased its operating profit for the quarter, from $10.2m in 2019 to $24.4m.
Jane Bokunewicz, coordinator of the gambling and tourism institute at Stockton University, said the report “confirms what many have already suspected: the current public health crisis has both suppressed consumer demand for brick-and-mortar casino gaming and related amenities, and increased the costs of operating these services.”
Atlantic City’s second-quarter report was also disappointing, with revenues falling nearly 85 per cent year-on-year, although many properties were still closed during that period.
Despite casinos struggling due to the pandemic, sports betting has taken off in the state, setting a nationwide record handle in September.
