🎰 Atlantic City Casino Profits Surged 79 Percent in Q4, Then Pandemic

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Borgata posted a GOP increase of 1. New Jersey Sen. Most Commented. Atlantic City casinos reported a nearly 79 percent surge in gross operating profit GOP in the final quarter of But then the coronavirus struck and resulted in the nine gaming properties suspending their operations. Land-based gross gaming revenue GGR tumbled Those rooms remain unoccupied, as the coronavirus continues to keep New Jersey on lockdown. President Sweeney Calls on Gov. Legislation would also grant the operators a three-year grace period before interest and penalties would be levied. News Financial Share this:. The New Jersey Legislature is considering bills that would extend tax breaks to the casinos, and excuse them from certain fees. Casino Expansion David Sheldon β€” July 6, Most Popular. Name, email and comment will be stored in our database. Despite the profit declines for five casinos, the DGE results show that Atlantic City was capable of supporting nine casinos in All nine Atlantic City casinos have been closed since mid-March. The financial results disclosed this week by the New Jersey Division of Gaming Enforcement DGE show that the East Coast gaming capital was just beginning to find some sense of a new normal. Most Read. Nevada Gov.{/INSERTKEYS}{/PARAGRAPH} No comments yet Write a comment Write a comment Cancel reply Your email address will not be published. The increase was predominantly due to Hard Rock and Ocean Casino, both of which greatly reduced their promotional and operating expenses. Related News Articles. Net revenue was up 9. The two casinos opened in June of It is a widely-accepted measure of profitability in the Atlantic City gaming industry. {PARAGRAPH}{INSERTKEYS}Last updated on: May 8, , h.