Quarterly Atlantic City profits double from a year ago
Atlantic City’s nine casinos saw their gross operating profit more than double in the third quarter of this year.
Figures released Monday by the New Jersey Division of Gaming Enforcement show the casinos posted a collective gross operating profit of more than $310 million in July, August and September of this year.
That is more than double the profit they reported in the third quarter of 2020, when they were still operating under state-imposed capacity restrictions due to the coronavirus pandemic.
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.
By WAYNE PARRY, the Associated Press.