{"id":174544,"date":"2021-05-24T14:12:18","date_gmt":"2021-05-24T21:12:18","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=174544"},"modified":"2021-07-19T02:47:15","modified_gmt":"2021-07-19T09:47:15","slug":"atlantic-city-casino-q1-profits-total-95-4m-borgata-top-performer","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/atlantic-city-casino-q1-profits-total-95-4m-borgata-top-performer\/","title":{"rendered":"Atlantic City Casino Q1 Profits Total $95.4M, Borgata Top Performer"},"content":{"rendered":"

Atlantic City is on a rebound. The city’s nine casinos collectively posted a gross operating profit of more than $95.4 million in the first three months of the year.<\/p>\n

\"Atlantic
Warmer temperatures have returned beachgoers, like these pictured above, to Atlantic City. The town’s casinos turned profitable in early 2021 following steep losses in 2020 because of the pandemic. (Image: AP<\/em>)<\/figcaption><\/figure>\n

The New Jersey Division of Gaming Enforcement says gross operating profits reflect earnings before interest, taxes, depreciation, amortization, affiliate charges, and other miscellaneous items shown on each casino<\/a> license’s income statement. “It is a widely accepted measure of profitability<\/a> in the Atlantic City gaming industry,” the state gaming regulator explains.<\/p>\n

With all nine casinos being forced to close in March of 2020, the three-month period was an easy comparable. The $95.4 million in profits represents a 221.9 percent surge in the same three months in 2020. Profits totaled $29.6 million in Q1 of 2020.\u00a0<\/span><\/p>\n

A fairer comparison is the first quarter in 2019. And profits for the first quarter of this year were still 11 percent higher than two years ago.\u00a0<\/span><\/p>\n

The strength of internet gaming and the safe return of tourists to Atlantic City are a powerful combination,”<\/strong> James Plousis, chairman of the New Jersey Casino Control Commission, told the AP<\/i>.\u00a0<\/span><\/p><\/blockquote>\n

Gross profits increased despite the casino resorts generating less net revenue, which dropped 5.4 percent from $597.2 million to $564.6 million.\u00a0<\/span><\/p>\n

Borgata Leads in Revenue\u00a0<\/b><\/h2>\n

MGM Resorts’ lone property in Atlantic City was the top profit earner. Borgata posted a quarterly profit of more than $29 million, a 28 percent year-over-year increase.\u00a0<\/span><\/p>\n

\n

Caesars Entertainment also enjoyed a strong three months. Tropicana profits climbed 128 percent to $16.2 million, Harrah’s soared 224 percent to $9.5 million, and Caesars’ profits skyrocketed 1,448 percent to $8.1 million. Combined, the three Caesars casinos reported profits of $33.8 million for the newly formed casino firm.\u00a0<\/span><\/p>\n<\/div>\n

Hard Rock’s profits came in at $8.6 million, Ocean Casino was just shy of $8 million, and Golden Nugget was $4.7 million in the black. The only casino to post a profit loss was Bally’s, which Caesars sold last year to Twin River Worldwide Holdings. That’s a Rhode Island-based casino operator that subsequently changed its corporate identity to the Bally’s Corporation.\u00a0<\/span><\/p>\n

Bally’s reported a profit loss of $6.5 million, down from a more than $8 million loss in 2020.\u00a0<\/span><\/p>\n

Resorts Need More Visitors<\/b><\/h2>\n

Atlantic City casinos have managed to turn profitable in 2021. But internet gaming and sports betting are playing a critical role<\/a> in the rebound. The brick-and-mortar resorts desperately want people to again fill up their hotel rooms and seats in front of their slot machines and table games.\u00a0<\/span><\/p>\n

The occupancy rate for the nine Atlantic City casinos and their 15,105 hotel rooms was only 52.4 percent in Q1. That’s down significantly from 68.1 percent experienced in the same three months in 2020.\u00a0<\/span><\/p>\n

Plousis is optimistic people will return, as COVID-19 restrictions are lifted and the summer months arrive.\u00a0<\/span><\/p>\n

Last week’s lifting of casino capacity restrictions bolsters confidence for a strong recovery this summer,”<\/strong> Plousis said.<\/p><\/blockquote>\n

The occupancy numbers are an improvement in the final quarter of 2020 when the rooms were booked just 46.3 percent of the time. Average nightly rates are also increasing. They have gone from $121.58 in Q4 of 2020 to $130.74 in the first quarter of 2021.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Atlantic City is on a rebound. The city’s nine casinos collectively posted a gross operating profit of more than $95.4 million in the first three months of the year. The New Jersey Division of Gaming Enforcement says gross operating profits reflect earnings before interest, taxes, depreciation, amortization, affiliate charges, and other miscellaneous items shown on […]<\/p>\n","protected":false},"author":25,"featured_media":174549,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\nAtlantic City Casino Q1 Profits Total $95.4M, Borgata Top Performer<\/title>\n<meta name=\"description\" content=\"Atlantic City casinos returned to profitability in early 2021, as the nine casinos collectively saw their profits surge 222 percent.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/atlantic-city-casino-q1-profits-total-95-4m-borgata-top-performer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Atlantic City Casino Q1 Profits Total $95.4M, Borgata Top Performer\" \/>\n<meta property=\"og:description\" content=\"Atlantic City casinos returned to profitability in early 2021, as the nine casinos collectively saw their profits surge 222 percent.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/atlantic-city-casino-q1-profits-total-95-4m-borgata-top-performer\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-24T21:12:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-07-19T09:47:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/1000-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"820\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Devin O'Connor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CasinoorgDevinO\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Devin O'Connor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/atlantic-city-casino-q1-profits-total-95-4m-borgata-top-performer\/\",\"url\":\"https:\/\/www.casino.org\/news\/atlantic-city-casino-q1-profits-total-95-4m-borgata-top-performer\/\",\"name\":\"Atlantic City Casino Q1 Profits Total $95.4M, Borgata Top Performer\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/atlantic-city-casino-q1-profits-total-95-4m-borgata-top-performer\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/atlantic-city-casino-q1-profits-total-95-4m-borgata-top-performer\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/1000-2.jpg\",\"datePublished\":\"2021-05-24T21:12:18+00:00\",\"dateModified\":\"2021-07-19T09:47:15+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf\"},\"description\":\"Atlantic City casinos returned to profitability in early 2021, as the nine casinos collectively saw their profits surge 222 percent.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/atlantic-city-casino-q1-profits-total-95-4m-borgata-top-performer\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/atlantic-city-casino-q1-profits-total-95-4m-borgata-top-performer\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/atlantic-city-casino-q1-profits-total-95-4m-borgata-top-performer\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/1000-2.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/1000-2.jpg\",\"width\":1200,\"height\":820,\"caption\":\"Warmer temperatures have returned beachgoers to Atlantic City. The town's casinos turned profitable in early 2021 following steep losses in 2020 due to the pandemic. (Image: AP)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/atlantic-city-casino-q1-profits-total-95-4m-borgata-top-performer\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Financial\",\"item\":\"https:\/\/www.casino.org\/news\/financial\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Atlantic City Casino Q1 Profits Total $95.4M, Borgata Top Performer\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf\",\"name\":\"Devin O'Connor\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-4-1-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-4-1-96x96.png\",\"caption\":\"Devin O'Connor\"},\"description\":\"Devin O'Connor is a senior reporter for Casino.org, covering politics, casino business, entertainment and gaming news on the East Coast. Devin's passion for politics and background in the world of pop culture television gives him insight into the gaming industry backstories that often drive news these days. After graduating from Penn State University with a theater arts degree, he worked at MTV Networks\/Viacom from 2005 to 2010 as a writer and producer. His credits included Total Request Live, New Year's Eve specials, and a special featuring poker superstar Daniel Negreanu. He later moved on to the HGTV\/DIY Network, where he created, wrote, and produced three series specials: That's So House Hunters, That's So 80s, and That's So 90s. Devin came on board with Casino.org in 2014. He lives in Pennsylvania and is an avid marathoner, having completed 15 races. Contact Devin at devin.oconnor@casino.org.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/devinoconnor\/\",\"https:\/\/x.com\/CasinoorgDevinO\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/devin-oconnor\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Atlantic City Casino Q1 Profits Total $95.4M, Borgata Top Performer","description":"Atlantic City casinos returned to profitability in early 2021, as the nine casinos collectively saw their profits surge 222 percent.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/atlantic-city-casino-q1-profits-total-95-4m-borgata-top-performer\/","og_locale":"en_US","og_type":"article","og_title":"Atlantic City Casino Q1 Profits Total $95.4M, Borgata Top Performer","og_description":"Atlantic City casinos returned to profitability in early 2021, as the nine casinos collectively saw their profits surge 222 percent.","og_url":"https:\/\/www.casino.org\/news\/atlantic-city-casino-q1-profits-total-95-4m-borgata-top-performer\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2021-05-24T21:12:18+00:00","article_modified_time":"2021-07-19T09:47:15+00:00","og_image":[{"width":1200,"height":820,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/1000-2.jpg","type":"image\/jpeg"}],"author":"Devin O'Connor","twitter_card":"summary_large_image","twitter_creator":"@CasinoorgDevinO","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Devin O'Connor","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/atlantic-city-casino-q1-profits-total-95-4m-borgata-top-performer\/","url":"https:\/\/www.casino.org\/news\/atlantic-city-casino-q1-profits-total-95-4m-borgata-top-performer\/","name":"Atlantic City Casino Q1 Profits Total $95.4M, Borgata Top Performer","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/atlantic-city-casino-q1-profits-total-95-4m-borgata-top-performer\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/atlantic-city-casino-q1-profits-total-95-4m-borgata-top-performer\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/1000-2.jpg","datePublished":"2021-05-24T21:12:18+00:00","dateModified":"2021-07-19T09:47:15+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf"},"description":"Atlantic City casinos returned to profitability in early 2021, as the nine casinos collectively saw their profits surge 222 percent.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/atlantic-city-casino-q1-profits-total-95-4m-borgata-top-performer\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/atlantic-city-casino-q1-profits-total-95-4m-borgata-top-performer\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/atlantic-city-casino-q1-profits-total-95-4m-borgata-top-performer\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/1000-2.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/1000-2.jpg","width":1200,"height":820,"caption":"Warmer temperatures have returned beachgoers to Atlantic City. The town's casinos turned profitable in early 2021 following steep losses in 2020 due to the pandemic. (Image: AP)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/atlantic-city-casino-q1-profits-total-95-4m-borgata-top-performer\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Financial","item":"https:\/\/www.casino.org\/news\/financial\/"},{"@type":"ListItem","position":3,"name":"Atlantic City Casino Q1 Profits Total $95.4M, Borgata Top Performer"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf","name":"Devin O'Connor","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-4-1-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-4-1-96x96.png","caption":"Devin O'Connor"},"description":"Devin O'Connor is a senior reporter for Casino.org, covering politics, casino business, entertainment and gaming news on the East Coast. Devin's passion for politics and background in the world of pop culture television gives him insight into the gaming industry backstories that often drive news these days. After graduating from Penn State University with a theater arts degree, he worked at MTV Networks\/Viacom from 2005 to 2010 as a writer and producer. His credits included Total Request Live, New Year's Eve specials, and a special featuring poker superstar Daniel Negreanu. He later moved on to the HGTV\/DIY Network, where he created, wrote, and produced three series specials: That's So House Hunters, That's So 80s, and That's So 90s. Devin came on board with Casino.org in 2014. He lives in Pennsylvania and is an avid marathoner, having completed 15 races. Contact Devin at devin.oconnor@casino.org.","sameAs":["https:\/\/www.linkedin.com\/in\/devinoconnor\/","https:\/\/x.com\/CasinoorgDevinO"],"url":"https:\/\/www.casino.org\/news\/author\/devin-oconnor\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/174544"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=174544"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/174544\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/174549"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=174544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=174544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=174544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}