{"id":6947,"date":"2024-04-10T05:15:58","date_gmt":"2024-04-10T05:15:58","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/04\/10\/atlantic-city-casinos-show-4-1-profit-decline-in-2023-review\/"},"modified":"2024-04-10T05:15:58","modified_gmt":"2024-04-10T05:15:58","slug":"atlantic-city-casinos-show-4-1-profit-decline-in-2023-review","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/04\/10\/atlantic-city-casinos-show-4-1-profit-decline-in-2023-review\/","title":{"rendered":"Atlantic City Casinos Show 4.1% Profit Decline in 2023 Review"},"content":{"rendered":"<div>\n<p>The most recent report released by the New Jersey Division of Gaming Enforcement provides information on the financial results of the casinos licensed in Atlantic City for the fourth quarter and entire year of 2023.<\/p>\n<p>The gross operating profit of Atlantic City casino licensees dropped by 3.6% to $148.5 million in the fourth quarter of 2023. But if we limit our analysis to casino hotel licensees alone, we notice a slight 2.6% increase to $142.1 million.<\/p>\n<p>With an almost $48 million gross operating profit for the quarter, Borgata was the highest earner. Interestingly, Bally\u2019s AC saw a huge improvement, going from a $2.2 million deficit in Q4 2022 to a $1.9 million profit in Q4 2023. On the other hand, Resorts Casino had a sharp decrease in earnings, which fell by 157.8% to a $937,00 loss.<\/p>\n<h2>Overall Decline in FY 2023<\/h2>\n<p>Zooming out to the full-year perspective, gross profit across all licensees dropped by 4.1% to $780.7 million. Even among casino hotel licensees, there was a 1.6% decrease, totaling $744.7 million. Despite these challenges, none of the licensees recorded losses for the entire year, with Borgata leading the pack with $226.1 million in profits.<\/p>\n<p><a href=\"https:\/\/igaming.org\/casino\/directions-to-ballys-casino\/\">Bally\u2019s<\/a> AC experienced an astounding 689% increase in earnings to $11.1 million, whereas Resorts Casino saw the biggest decrease, with profits falling by 54.8% to $9.5 million.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/kats-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"Kats Casino\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/12\/kats-casino-1.jpg.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/kats-casino\/\" title=\"Kats Casino\" target=\"_blank\" rel=\"nofollow noopener\">Kats Casino<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong><strong>250% Extra + $125 Free Chip!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. 250% on 1st Deposit + $125 Free Chip<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/kats-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>All licensees were able to maintain their operations into 2023 in spite of the decline in profits. Compared to the prior year, the combined income for all casino license holders increased by a modest 0.8% to $3.3 billion.<\/p>\n<p>These numbers are consistent with more general upward trends in New Jersey\u2019s gaming industry, as overall gaming income increased by 10.9% and iGaming revenue increased significantly by 15.7% over the course of 2023.<\/p>\n<p>\u00a0<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/atlantic-city-casinos-show-4-1-profit-decline-in-2023-review\/\">Atlantic City Casinos Show 4.1% Profit Decline in 2023 Review<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The most recent report released by the New Jersey Division of Gaming Enforcement provides information on the financial results of the casinos licensed in Atlantic City for the fourth quarter and entire year of 2023. The gross operating profit of Atlantic City casino licensees dropped by 3.6% to $148.5 million in the fourth quarter of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-6947","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/6947","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=6947"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/6947\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=6947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=6947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=6947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}