Atlantic City Casino Profits Drop 1.3% in Q2 2024

Despite a rise in net revenue, increased costs hinder profitability for most casinos.

Gross operating profit for nine casinos and two online entities totaled $178.4 million.
Two-thirds of the casinos were less profitable than a year earlier.
Borgata and Hard Rock saw profit increases, while others like Ocean and Resorts experienced declines.
Overall earnings for the first half of 2024 were down nearly 5% compared to the same period in 2023.
Hard Rock had the highest hotel occupancy rate at nearly 92%; Golden Nugget had the lowest at just over 52%.