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

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

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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.

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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.
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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.
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