The Borgata reported a profit of $73.5 million, down 1.7% from a year ago. James Plousis, chairman of the New Jersey Casino Control Commission, noted that third-quarter gross operating profit was the third-best in Atlantic City since 2008, despite negative effects from a cybersecurity issue affecting the parent companies of four casinos. “That said, it did outperform pre-pandemic 2019 for both net revenue and gross operating profit, suggesting that this could be part of a cycle of stabilization.” “In keeping with the experiences of many resort communities along the New Jersey shore, Atlantic City saw a bit of a cooling off in summer 2023 compared to the pent-up post-pandemic energy seen in 20, said Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, which studies the Atlantic City casino industry. Gross operating profit reflects earnings before interest, taxes, depreciation, and other expenses, and is a widely accepted measure of profitability in the Atlantic City casino industry.
And the Ocean Casino Resort had a profit of $43 million, up more than 10% from a year earlier. Hard Rock posted a gross operating profit of $44.3 million in the third quarter, up less than 1% from a year earlier.
