Post-COVID woe: Atlantic City casino earns fell 4.6% in ’22

KIFI

Published April 10, 2023 4:42 PM

By WAYNE PARRY
Associated Press

ATLANTIC CITY, N.J. (AP) — Three years after the coronavirus pandemic erupted, Atlantic City’s casinos are collectively struggling to get back to where they were before COVID-19 in terms of profitability. Figures released Monday by the New Jersey gambling regulators show the city’s nine casinos collectively had a gross operating profit of $731.2 million in 2022, down 4.6% from a year earlier. And only four had a profit that was higher than what they reported in 2019, the last full year before the pandemic broke out. 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.

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