🎰 Coronavirus Closures Send Atlantic City Casino Profits Down 65% – CBS Philly

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coronavirus, the closures mark the fifth time in the year history of legalized gambling in Atlantic City that the casinos have been shuttered.


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Phil Murphy ordered the closure of the Atlantic City's nine casinos, as New Jersey continues to grapple with how best to minimize the spread of.


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Phil Murphy ordered the closure of the Atlantic City's nine casinos, as New Jersey continues to grapple with how best to minimize the spread of.


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ATLANTIC CITY, N.J. (AP) β€” Atlantic City's casinos saw their gross operating profits fall by more than 65% in the first quarter of this year.


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Phil Murphy ordered the closure of the Atlantic City's nine casinos, as New Jersey continues to grapple with how best to minimize the spread of.


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Phil Murphy ordered all casinos closed and all major events canceled, a near complete shutdown of the city's economy. Like in Las Vegas β€” in.


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Phil Murphy ordered all casinos closed and all major events canceled, a near complete shutdown of the city's economy. Like in Las Vegas β€” in.


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A sign on the Boardwalk entrance of Bally's Atlantic City informs guests that the casino, along with all others in the city, is closed indefinitely.


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22, photo shows gamblers playing slot machines in the Golden Nugget casino in Atlantic City N.J. (Wayne Parry/AP Photo). Atlantic City's.


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coronavirus, the closures mark the fifth time in the year history of legalized gambling in Atlantic City that the casinos have been shuttered.


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Hotel occupancy was Top Spots. Copyright by The Associated Press. School Closings. All Rights Reserved.{/INSERTKEYS}{/PARAGRAPH} Gross operating profit reflects earnings before interest, taxes, depreciation and other expenses, and is a widely accepted measure of profitability in the Atlantic City gambling industry. But it, like virtually all major sporting events, was canceled due to the virus outbreak. {PARAGRAPH}{INSERTKEYS}The statistics cover only the first two weeks of casino closures due to the coronavirus outbreak; second-quarter earnings are sure to be worse because the casinos have been shut all of April and, so far, May, with no reopening date scheduled. Three casinos swung from a first-quarter profit last year to a first-quarter loss this year. Casinos have continued to take in money through internet gambling, and, on a much smaller scale, sports betting, with obscure events like Belarussian soccer or Russian ping pong providing betting options. So why not document it with a "porch portrait? Phil Murphy ordered the casinos closed on March 16, affecting the last two weeks of the quarterly earnings reporting period. Two internet-only entities saw their operating profits increase during the quarter. There are dozens of dogs up for adoption right here in Philadelphia. CBS 3. The NCAA college basketball championship tournament was just about to get underway. But that period included what might have been a prosperous period for the casinos, particularly their sports betting operations. Pennsylvania Gov.