Atlantic City’s casino industry is stronger than ever.
According to data released by the New Jersey Division of Gaming Enforcement last Friday, Atlantic City’s casino earnings from the previous year have surpassed its pre-pandemic numbers.
America’s Playground generated a total of $766.8 million in casino earnings for 2021, eclipsing the collective total of $594 million earned in 2019 or before the COVID-19 pandemic. Atlantic City’s nine casinos made an aggregate $117.5 million in 2020.
Eight of the nine casinos in Atlantic City posted a gross operating income in 2021. Gross operating income is the widely-accepted measure of profitability in the casino industry. It reflects profit before taxes, interests, depreciation, and other expenses.
Borgata Had the Highest Gross Operating Profit
The Borgata had the highest operating profit for 2021 at $174 million, which is nearly 300 times better than the $650,000 it made last year. Meanwhile, the Tropicana made $118.7 million last year, way up from its $18.7 million operating profit in 2020. Hard Rock came next at $107 million, up from $11 million two years ago, and the last casino to report at least a $100 million earnings.
Ocean Casino earned $91 million from $21.8 million in 2020 while Caesars generated $62 million, after making only $10.4 million the previous year. Golden Nugget had $35.5 million, up from $7.2 million, and Resorts produced $27.6 million after reporting a loss of $10.5 million in 2020. The only casino to report an operating loss for 2021 was Bally’s although it’s $13 million loss is half the size of its loss in 2020.
Golden Nugget Topped Online Gaming
Golden Nugget was the top performing online gambling entity with a $32.8 million profit in 2021 which was 72% better than its previous year’s performance. Caesars Interactive Entertainment New Jersey earned $16.5 million last year but the numbers were down 17% from its 2020 figures. Likewise, Resorts Digital saw its 2020 online profits drop by 29% to $15 million in 2021.
Meanwhile, Ocean Casino topped its Atlantic City peers as far as hotel occupancy rate is concerned at 89%. The Borgata had the lowest occupancy rate in 2021 at 53%. Ocean also had the highest average room rate at $238.40 while Resorts had the lowest at only $116.31.