Atlantic City casino earnings fall nearly 14% in 3rd quarter

  • 📰 ksatnews
  • ⏱ Reading Time:
  • 46 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 53%

Business News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Atlantic City’s casinos saw their operating profits decline by nearly 14% in the third quarter of this year.

Albert Delgado was sentenced to 35 years in prison after he pleaded guilty to a charge of super aggravated sexual assault of a child.Beautiful weekend, then a roller coaster ride for Thanksgiving weekDónde ver luces navideñas en San Antonio y áreas cercanasTired of bumper-to-bumper traffic? Swap your car for this electric scooterGamblers play slot machines at the Hard Rock casino in Atlantic City, N.J., on Oct. 3, 2024.

The state Division of Gaming Enforcement issued statistics showing that the nine casinos had a collective gross operating profit of $236.5 million in the third quarter. That was down 13.8% from the third quarter of 2023.It was the latest indication of how the casinos continue to struggle with economic conditions and a shift in consumer preferences after the COVID19 pandemic.

She noted that the average hotel room rate declined by $17 in the third quarter, indicating that casino operators may have had to lower their rates to attract customers. The absence of large-scale tourism events like the annual air show and large beach concerts this summer also likely contributed to the downturn, she said.

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 442. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Atlantic City casino earnings fall nearly 14% in 3rd quarterAtlantic City’s casinos saw their operating profits decline by nearly 14% in the third quarter of this year. New Jersey gambling regulators say the nine casinos had a collective gross operating profit of $236.5 million in the third quarter. That was down 13.8% from the third quarter of 2023.
Source: AP - 🏆 728. / 51 Read more »

Atlantic City casino earnings fall nearly 14% in 3rd quarterAtlantic City’s casinos saw their operating profits decline by nearly 14% in the third quarter of this year.
Source: wjxt4 - 🏆 246. / 63 Read more »