Atlantic City’s nine casinos report huge profit gain in Q3
By Bob Garcia
New Jersey’s casino hub is continuing to see significant improvements
It looks like the nine casinos in Atlantic City were able to close the third quarter on a high note, as state reports last Monday showed that their operating profit more than doubled compared to the same period last year. The New Jersey Division of Gaming Enforcement reported that more than $310 million in total revenue was recorded for the months of July, August, and September.
The new numbers make it clear that this year’s earnings have more than doubled the efforts achieved in 2020, when the same quarter was reported at $151 million. It is worth remembering that Atlantic City’s casinos during that period were still operating on a limited basis due to the massive restrictions imposed by the state as a result of COVID-19. Because of this, James Plousis, the president of the New Jersey Division of Gaming Enforcement, stated that the results could not really be directly compared.
Therefore, Plousis decided to compare it to a pre-pandemic year (2019), and the results show that this year’s casinos have 30% less revenue. By means of a statement, Plousis made it clear that the operators were able to make a great profit during this last period thanks to efficiency. He added that even though the period is a bit challenging, America’s Playground is doing what it needs to do to regain momentum in its recovery and is on schedule to finish 2021 with a bang.
Many parts of the country have seen casinos starting to come back to life, recording numbers that, in many cases, even exceed those reported before the pandemic. While this may not have been the case for these casinos, the simple fact of doubling their 2020 numbers is a clear indication that they are getting back on a positive track with respect to quarterly revenues.