Big Q2 losses across Atlantic City casinos

Casinos were able to generate some revenue from online gambling and sports betting services.
Casinos were able to generate some revenue from online gambling and sports betting services.

Atlantic City casinos together saw a gross operating loss of $112 million in the second quarter.

US.- A new report from state gambling regulators shows Atlantic City casinos collectivelt saw revenues for the second quarter fall by nearly 85 per cent year-on-year.

The coastal resort city saw all nine of its casinos close for three months at the height of the pandemic on the orders of Gov. Phil Murphy.

Casinos were able to generate some revenue from online gambling and sports betting services during the period of closure, but together saw net revenue of just $121.4 million.

The Golden Nugget casino, which hasthe leading internet gambling platform, was the only casino in Atlantic City to report an operating profit for the quarter, making $3.1 million. That was still down 69 per cent on last year.

Since Atlantic City’s casinos reopened in July, they have implemented a variety of sanitary measures to reassure consumers. Gaming floors are capped at 25 per cent capacity as per New Jersey state legislation.

James Plousis, chairman of the New Jersey Casino Control Commission, said: “During this period, the casinos undertook an amazing effort and expense to prepare a safe environment for the return of employees and guests.

“That critical investment enabled the casinos to begin welcoming back visitors with appropriate limits in July, and started Atlantic City on the road to recovery.”