Atlantic City 1st quarter casino revenues increased to more than $95 million. Also, the amount was more than triple the amount the casinos earned in the same quarter of last year. It was the time when coronavirus led to the closure of casinos during half of March.
According to the NJ Division of Gaming Enforcement, eight of the nine casinos reported increases in their gross operating revenue. Also, Bally’s was the only one that reported an operating loss. The Gross operating revenue includes profits before taxes, interest, depreciation, and other fees. According to a gambling and sports forum, it’s the measure of profitability in the NJ gambling industry.
The NJ Casino Control Commission said 2021’s figure is not comparable to the same quarter in 2020 due to temporary casino shutdowns. Thus, the commission compares the 2021 1st quarter performance to the same quarter in 2019, which was before the pandemic.
Atlantic City 1st Quarter Casino Revenues
According to gambling and sports news reports, the first-quarter earnings in 2021 are 11 percent higher than the same quarter in 2019. Online gambling and the return of tourists in the city contributed to the higher casino profits. Also, the state lifted the casino capacity limitations. It is in preparation for the expected return of out-of-state tourists during summer.
Borgata reported an operating profit of more than $29 million during the first quarter, increasing 28 percent from the same quarter in 2020. On the other hand, the Tropicana earned around $16 million, rising 128 percent from the same period in 2020.
Online casinos also made a killing in the first three months of 2021. Golden Nugget Online Gaming earned $8 million, an increase of around 24 percent. Also, Caesars Interactive Entertainment earned $4.5 million, an increase of about 20 percent as per casino and baseball betting sources.
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