Atlantic City Casinos Surpass Pre-Pandemic Earnings in 2021

Atlantic City Casinos
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.

Borgata Atlantic City is Now Under New Leadership

Borgata Atlantic City Travis Lunn Boardwalk

Atlantic City is still home to some of the most popular casinos in the United States. That includes Borgata Atlantic City, which first opened its doors to the public in 2003. New reports have confirmed that this property is now under new leadership.

It’s not uncommon to see Atlantic City casinos welcome new executives. Now is a great time to talk about who is taking control over one of this city’s most popular gambling venues.

Let’s get into it.

Travis Lunn is Named the New President of Borgata Atlantic City

Atlantic City is home to a huge number of popular casinos. This small New Jersey city has been one of the top gambling hubs in the country for decades. It has continued to expand over the years and experienced several record-breaking revenue figures throughout 2021.

Every so often, the casinos here decide it’s time for a shake-up. Back in 2019, Ocean Casino Resort hired Terry Glebocki as their new CEO. It seems to have paid off, as this property continues to generate larger revenue figures.

It now seems that Borgata Atlantic City is looking for some new ideas, too. Reports have confirmed that Travis Lunn has just been hired as the new President of this casino. A longtime casino executive, Lunn will be stepping in for former Borgata president Melonie Johnson, who took a position inside MGM National Harbor. Lunn released a statement to the media expressing his excitement with this new role.

“It’s an honor to be joining this incredibly talented team,” Lunn said. “Borgata is a world-class resort destination with a brand recognized nationwide for its spectacular accommodations, culinary program and entertainment offerings. I can’t wait to jump in and connect with all of the employees, guests and local community members.”

Borgata tends to be one of the best-performing casinos in Atlantic City. It will be interesting to see if Travis Lunn can help this venue to generate more revenue moving forward. Stay tuned for updates!

Predicting New Jersey’s Gaming Revenue Figures in 2022

2021 was a special year for the entire US gambling industry. Most states with gaming industries saw impressive revenue surges throughout the year. That includes New Jersey, home to many popular casinos and sportsbooks.

Many analysts are now looking ahead at how this state’s gaming industry might fare in 2022. There is a debate raging over whether or not things will fare better than in 2021. There is certainly reason to believe that the casino industry here will succeed this year.

Tourism rates into Atlantic City increased throughout 2021. Millions flocked to this city to take part in the entertainment and gaming options. Assuming no more casino shutdowns are ordered, it seems likely that casino revenue will increase even further in 2022.

Sports betting revenue may actually decline throughout 2022. New York is set to launch its first online sportsbooks this weekend. That is likely to result in revenue drops in New Jersey, as New Yorkers will no longer need to make the trip into NJ to access regulated online sportsbooks.

Borgata Atlantic City is certainly hoping it experiences revenue increases this year. Reports on the revenue earned here in January are likely to surface soon.

Major Casino Companies Focus on Expansion

It’s been a very interesting few years for the US casino industry. 2020 proved to be one of the worst years in history for various casino companies around the country. Things turned around in 2021 and most casino operators experienced major revenue surges.

It now seems that casino companies are focused on expansion in 2022. Some of the top ones have been involved in major sales and purchases in recent months. That includes MGM Resorts International, which is selling The Mirage to Hard Rock International for $1.1 billion.

Several of the country’s top casino companies are still operating massive properties in Macau. Asia’s largest gambling destination has struggled tremendously in recent years. Health and travel restrictions set by Mainland China have continued to hurt the casinos operating here.

Some of the smaller casino hubs in the country are set to welcome new casinos soon. Illinois, for example, is welcoming six new casinos over the next few years. Places like Pennsylvania and Colorado are set to welcome new gaming venues, too.

Borgata Atlantic City now has a new president. Will Travis Lunn help this property to succeed in 2022? Let us know what you think in the comments section below.

Atlantic City Casino Revenue Increases Massively in Q3

Over the past year, Atlantic City has grown to become one of the most profitable gambling hubs in the country. New reports show that Atlantic City casino revenue increased massively in 2019’s third quarter. It’s fantastic news for the state and casino companies operating here.

Atlantic City Sign

Both sports betting and casino gambling continues to generate revenue here. Let’s take a look at exactly how much money the city’s gambling industry managed to generate over the past several months.

New Reports Show Atlantic City Casino Revenue is Increasing

You can’t cover the US casino industry without talking about Atlantic City. Decades ago, this was one of the most profitable gambling markets in the world. Unfortunately, the recession took a major toll on this city and it seemed on the brink of collapse.

Recently, however, things have improved dramatically. Revenue in this city has continued to increase for almost all of 2019. There are a few major reasons why this is.

The legalization of sports betting is certainly helping. New Jersey made sports gambling legal in May of 2018. Every casino in the state now operates a sportsbook. It’s helped to generate millions of dollars for the state government via taxes. New Jersey now has the most profitable sports betting market in the world.

New reports show that Atlantic City casino revenue increased massively during this year’s third quarter. Gross profit for the three months increased to $26.5 million, representing a 12.5% increase from the same time period in 2018. Atlantic City’s nine casinos generated $928.9 million in net revenue.

Things are looking very good here. Based on the way things are going, this will be the best year in the city’s history.

Which Casinos Generated the Most Money in Q3?

July, August, and September are all popular gambling months. It’s not a huge surprise to see so much money flowing into the casinos during this quarter. Some casinos managed to earn considerably more than others, though.

Borgata Casino generated the most money. It’s the most popular casino in the city and blew all of its competitors out of the water. In total, this gambling venue brought in $210,141,863. Hard Rock Atlantic City brought in the second-most money at $106,663,788.

These properties have reason to celebrate. James T. Plousis, Casino Control Commission Chairman in NJ, states that non-gambling amenities in the city proved successful last quarter, too.

“Positive trends also continued with important tourism indicators,” he said. “Non-gaming amenities continue to create a competitive advantage, and visitors like the diverse dining, entertainment and leisure activities that Atlantic City has to offer.”

Just about every casino had a solid few months. Things are obviously slowing down as winter approaches yet many are still generating more money than they did last year.

Sports Betting Revenue Surges in AC, As Well

There’s never been a better time to be a sports fan in Atlantic City. Sportsbooks in this city are continuing to improve. Both online and land-based sports gambling is legal here. For almost all of 2019, revenue from this industry has increased.

In October, sports betting helped to increase gambling revenue in this city to $266.23 million. Statewide, sports bettors here placed $487.9 million in legal sports wagers last month. 85% of these bets were placed online.

Altogether, more than $3.5 billion has been spent on sports bets in this state.

“New Jersey sportsbooks have surpassed Nevada’s in recent months, and it continues to show significant promise for the gaming industry,” said Steve Callender, president of the Casino Association of New Jersey and senior vice president of operations for the East Region of Tropicana Atlantic City’s parent company, Eldorado Resorts Inc.“We are optimistic as we approach the end of this year that we will finish 2019 out in a strong position.”

Atlantic City casino revenue and sports betting revenue continue to increase. This city has the potential to become the country’s true gambling center.

Stay tuned for more Atlantic City gambling news over the next few months!