In a surprising turn of events, Atlantic City casinos experienced their worst September since the onset of the COVID-19 pandemic in 2020. The dip in revenue comes as a shock to many industry experts who predicted a slight increase in profits for the month.
According to data released by the New Jersey Division of Gaming Enforcement, Atlantic City casinos reported a total gaming revenue of $211.5 million in September, a significant 11.6% decrease compared to the same month last year. This marks the first time in over a year that the city has seen a year-over-year decline in gaming revenue.
The unexpected dip in profits can be attributed to a variety of factors, including a decrease in tourism and the ongoing staffing shortages faced by many casinos. As the summer season comes to an end, fewer visitors are making their way to Atlantic City, resulting in fewer players at the casinos.
In addition, the recent surge in COVID-19 cases due to the Delta variant has also played a role in dampening casino profits. Many players are choosing to stay home rather than risk exposure to the virus in crowded gaming halls.
Industry experts are closely monitoring the situation and are hopeful that the casinos will bounce back in the coming months. With the holiday season approaching, many are optimistic that a surge in tourism and a return to normalcy will help boost profits for the city’s struggling gaming industry.
Despite the disappointing results for September, some casinos in Atlantic City managed to fare better than others. Borgata Hotel Casino & Spa reported a slight increase in gaming revenue compared to last year, while Hard Rock Casino saw a significant decline in profits.
As the city continues to navigate the challenges posed by the pandemic, it remains to be seen how Atlantic City casinos will recover from their worst September since 2020. Industry experts are urging casinos to adapt to the changing landscape and implement innovative strategies to attract players and increase profits in the months ahead.
