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Gross operating profit includes profits before debt, taxes and other costs, a broadly recognised indicator of profitability in the gaming industry in the Atlantic City. This years’ estimates are not equally equivalent to the first quarter of 2020 due to virus-related shut-downs, James Plousis, Chairman of New Jersey Casino Control Commission, said. So, this year’s success was compared with the first quarter of 2019 when all the casinos were running and there was no pandemic.
The market update
It’s a strong mix of the strength of online gaming and tourists’ healthy return to Atlantic City.” “The removal of the limits on casino availability last week reinforces faith in this season.”
Operating profit in the first quarter was over $29 million, more than 28% from the same time last year, reported by the industry leader Borgata. Tropicana earned 16.2 million dollars, almost 128% over last year, while Harrá earned 9.5 million dollars, up 224%.
In the first quarter of last year, the Caesars’ loss in comparison with 4.2 million dollars was almost 8.2 million dollars, up from a loss of 593,000 dollars in the first quarter of the previous year. And in the first four months of the year, the Ocean Casino Resort gained $7.94 million compared to the loss of $574,000. Bally’s posted a loss of around $6.5 million, compared to over $8 million last year in its former property. Golden Nugget gathered $4.7 million, up more than 406 percent. Golden Nugget was over $1 million from a loss of $3.4 million during first quarter 2020.
Golden Nugget Online Gaming from Internet companies earned more than $7.9 million, almost 24 percent. Golden Nugget Online Gaming earned almost $4.5%, almost 20 percent, while Caesars Interactive Entertainment NJ earned almost $4.3 million.