Dealers conduct a game of craps at the Ocean Casino Resort in Atlantic City, N.J., on May 21, 2024. Gamblers play slot machines at the Ocean Casino Resort in Atlantic City, N.J., on May 21, 2024. Dealers conduct a game of craps at the Ocean Casino Resort in Atlantic City, N.J., on May 21, 2024. Dealers conduct a game of craps at the Ocean Casino Resort in Atlantic City, N.J., on May 21, 2024. Gamblers play slot machines at the Ocean Casino Resort in Atlantic City, N.J., on May 21, 2024.
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. “Operators everywhere continue to feel pressure from the increased cost of goods and services that they purchase,” said James Plousis, chairman of the New Jersey Casino Control Commission.
The Borgata had the largest operating profit for the quarter at $54.3 million, up 15.5% from a year ago. Hard Rock earned $35.4 million, up 16.3%; Tropicana earned $23 million, down 7.7%; Ocean earned nearly $16 million, down 33.2%; Harrah’s earned $15.7 million, down 13%; Caesars earned $14.6 million, down 4.5%; Golden Nugget earned $6.4 million, down nearly 17%; Bally’s earned $2.7 million, up more than 49%, and Resorts earned $1.6 million, down nearly 54%.