Positive Growth Demonstrates The Need to Invest in AC
The Division of Gaming Enforcement in New Jersey released blockbuster revenue numbers for the 3rd Quarter of 2021 for Atlantic City. Huge news as we work to put the pandemic behind us.
Based upon filings made with the Division of Gaming Enforcement, the casino licensees reported Net Revenue of $968 million and a Gross Operating Profit of $310.8 million for the 3rd Quarter 2021.
For the first nine months of 2021, Net Revenue was $2.3 billion and the Gross Operating Profit was $592.4 million. In light of the casino hotel closures beginning March 16, 2020 through July 2, 2020 due to the COVID-19 pandemic and subsequent operating restrictions, the Net Revenue and Gross Operating Profit for the 3rd quarter and year-to-date are not comparable to the 2020 period.
The occupancy rate in the industry’s casino hotels for the three months ended September 2021 was 81.3% and the occupancy rate for the nine months ended September 2021 was 68.0%.
“We are pleased that the north end of the Atlantic City Boardwalk “North Beach” continues to lead the market, with Hard Rock Atlantic City, Ocean Casino Resort and Resorts showing the majority of the increase in comparison to 2019," Joe Lupo, President of Hard Rock Hotel & Casino Atlantic City, said in a statement provided to Gambling911 Monday afternoon. "This positive growth shows the importance of investing in the city and that working collaboratively together can have a positive impact in our community.”
- Aaron Goldstein, Gambling911.com
