Atlantic City Casino Posted a Nine-Point Drop During the Second Quarter

Atlantic City Casino Post a Nine-Point Drop During the Second Quarter – For the first time in New Jersey gambling history, the quarterly financial reports from the gaming industry had no physical income.

According to data released by the New Jersey Division of Gaming Enforcement, nine Atlantic City casinos reported a 170.4 percent year-over-year decline during the second quarter of 2020. Casino licensees reported net income of only $ 121.4 million, for a total loss of $ 112. million for a three month period.

Governor Phil Murphy forced the industry to shut down in mid-March in response to the COVID -19 pandemic, and the harm it poses to his country in proximity to one of the major virus hotspots, New York City visit

Murphy took one of the strictest approaches of any governor in the country by forcing the casinos to close for nearly four months. He allowed them to reopen July 2 with limited capacity and without indoor dining, smoking and drinking, resulting in losses for nearly every operator in the state.

Of all operators, only Golden Nugget Atlantic City reported a profit in the second quarter. Tilman Fertitta’s casino can thank its online gambling presence for its overall profit, as it is the only gambling available to Garden State residents during the brick and mortar shutdown.