Atlantic City's gambling establishments and two online-only entities generated a total of $281.2 million in revenue during the third quarter of this year, marking a 7.5% decrease compared to the same period last year, as reported by New Jersey gambling authorities on Tuesday.
The data released by the state Division of Gaming Enforcement reveals that although the nine casinos collectively exceeded their profitability levels from the third quarter of 2019, prior to the onset of the COVID-19 pandemic, this achievement was primarily driven by the impressive performance of the two most recent additions to the casino scene, along with an accounting adjustment made by another establishment.
Hard Rock recorded a gross operating profit of $44.3 million in the third quarter, experiencing a marginal increase of less than 1% compared to the previous year. Additionally, the Ocean Casino Resort saw a profit of $43 million, indicating a significant boost of over 10% from the same period in the preceding year.
Gross operating profit serves as a widely accepted metric to assess profitability in the Atlantic City casino industry, encompassing earnings prior to factoring in interest, taxes, depreciation, and other expenses.
The data released by the state Division of Gaming Enforcement reveals that although the nine casinos collectively exceeded their profitability levels from the third quarter of 2019, prior to the onset of the COVID-19 pandemic, this achievement was primarily driven by the impressive performance of the two most recent additions to the casino scene, along with an accounting adjustment made by another establishment.
Hard Rock recorded a gross operating profit of $44.3 million in the third quarter, experiencing a marginal increase of less than 1% compared to the previous year. Additionally, the Ocean Casino Resort saw a profit of $43 million, indicating a significant boost of over 10% from the same period in the preceding year.
Gross operating profit serves as a widely accepted metric to assess profitability in the Atlantic City casino industry, encompassing earnings prior to factoring in interest, taxes, depreciation, and other expenses.
