2019 was a critical year for Atlantic City. It was the first full year in which there were nine casinos in operation following the June 2018 openings of Hard Rock and Ocean Casino.<\/p>\n
The nine casinos won nearly $3.3 billion, with land-based gross gaming revenue (GGR) coming in at $2.68 billion \u2013 a seven percent premium on 2018. The introduction of sports betting provided a major assist for the casinos and two horse racetracks, oddsmakers taking $4.58 billion worth of action, resulting in a win (hold) of $293 million.<\/p>\n
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However, six of the seven casinos in operation prior to Hard Rock and Ocean reported a decline in their gross operating profit (GOP) through three quarters in 2019.<\/p>\n<\/div>\n
Total GOP dipped 4.5 percent from $507.44 million through three quarters in 2018 to $484.56 million in 2019. With casinos closed indefinitely, 2020 will see that number further decline.<\/p>\n","protected":false},"excerpt":{"rendered":"
Atlantic City casinos are laying off thousands of workers because of the state-mandated closure of their operations in response to the COVID-19 pandemic. All nine casinos say they’re temporarily laying off employees so the workers can collect unemployment insurance. In Congress’ $2.2 trillion relief package, the federal government is adding $600 per week onto regular […]<\/p>\n","protected":false},"author":25,"featured_media":131320,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62],"tags":[],"acf":[],"yoast_head":"\n
Atlantic City Casinos Announce Layoffs, Two COVID-19 Cases Confirmed<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n