Casinos in Atlantic City continue to show strong growth
By Bob Garcia
The casino hub of New Jersey is finding solid ground as gamblers return
Even though 2019 was an incredible year for Atlantic City casinos, 2022 seems to be proving to fare even better, and it’s not even over yet. According to recent mixed results on the region’s gaming industry performance released by New Jersey’s Division of Gaming Enforcement (DGE), the nine casinos in this busy city earned $269.2 million in gross operating win in the third quarter. News like this continues to come in steadily to Americas Cardroom, demonstrating just how strong America’s Playground is in the industry.
While it’s true that the recent figure translates to a 13% year-over-year quarterly loss, it’s 12.5% more than the profit they made in the third quarter of 2019. According to Jane Bokunewicz, director of the Lloyd D. Levenson Institute for Gaming, Hospitality, and Tourism at Stockton University, last summer presented some major hurdles in the industry. Those factors included rising gas prices, inflation, shortages of people and supplies.
Bokunewicz added that expenses, wage increases and reduced overhead represented a major financial challenge for all casino operators in this city. This all explained why this third quarter was less than the same period last year.
Still, much of the gain has been attributed to the operations of Hard Rock, owned by the Seminole Tribe of Florida. The casino posted the highest earnings in the third quarter at $44 million. The Tropicana and Borgata follow, with profits of $41.5 million and $40 million, respectively.