Atlantic City Casino Profits Down 7.5%, Crime up.

The Atlantic City casino industry saw a profit decline of 7.5%, compared to 3rd Q 2022. That’s according to latest findings from DGE, the state Division of Gaming Enforcement.

For the first 3 quarters of 2023 (Jan-Sept), total Atlantic City gaming was down 4.2%, year-over-year.

Positive results from Hard Rock and Ocean softened the blow.

  • Hard Rock up 1%
  • Ocean Casino up 10%
  • Borgata down 1.7%.
  • Tropicana down 11.5%
  • Harrah’s Resort down 13%
  • Caesars down 18%
  • Golden Nugget down 4%
  • Bally’s down 32%
  • Resorts Casino down 43%.
  • Caesars Interactive down 18%
  • Resorts Digital down 50%.

From PlayNJ: One casino’s performance — Ocean Casino Resort — is the primary reason October’s land-based revenue results were not an overall disaster for all nine Atlantic City casinos.

Atlantic City Casino Hotel Occupancy.

  • Hard Rock had highest occupancy rate: 96%
  • Golden Nugget had lowest occupancy rate: 67%.
  • Highest avg room rate: $347 at Ocean.
  • Lowest avg room rate: $148 at Resorts.

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Ocean’s Rising Tide Lifts All Atlantic City Casinos Through Choppy October.

From PLAY NJ: Four of the market’s largest casino properties were down in October, although it is not a coincidence they are operated by companies that were hacked by cybercriminals in September.

Reality check for Atlantic City‘s brick-and-mortar business. Legal online casinos offer profit potential of a gambling parlor without burdensome overhead costs. Much safer too.

AC crime is soaring as the city is in desperate need of at least, 75 additional police officers on the street.

The town has gotten so dangerous, CRDA hired armed security guard for their AC office.

Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism at Stockton University, New Jersey Casino Control Commission, and CRDA have yet to seriously address how the sharp rise in violent Atlantic City crime is affecting industry profitability.

Local newspaper and radio did little to cover cyber-hacking and data ransom affecting four Atlantic City casinos.

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