Wayne Parry
Associated Press
ATLANTIC CITY, N.J. The coronavirus outbreak sent profits plunging at Atlantic City’s casinos by more than 80% last year, according to figures released Friday by New Jersey gambling regulators.
But despite those dismal numbers, seven of the nine casinos still managed to eke out a profit, no matter how small, in 2020.
The state Division of Gaming Enforcement reported the nine casinos collectively posted $117.5 million in gross operating profits in 2020. That was down from nearly $594 million a year earlier, before the pandemic forced casinos to close for 3 1/2 months, and limited their operations even after reopening.
Gross operating profit reflects earnings before interest, taxes, depreciation and other expenses, and is a widely accepted measure of profitability in the Atlantic City casino industry.
Virus knocks 80% off Atlantic City casino profits in 2020
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Virus knocks 80% off Atlantic City casino profits in 2020
go.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from go.com Daily Mail and Mail on Sunday newspapers.
Virus knocks 80% off Atlantic City casino profits in 2020
go.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from go.com Daily Mail and Mail on Sunday newspapers.