First-Quarter Figures Show Atlantic City Casinos Thriving To Start 2022
Borgata made the biggest first-quarter profit of $45.9 million in Atlantic City casinos. The total profits for the nine casinos is higher than any first quarter in the previous eight years. In 2019, with the new Hard Rock and Ocean casinos not even a year old, firstquarter profits were $87 million.
Borgata made the biggest profits in January/February/March. Hard Rock came second, Tropicana third and Golden Nugget was seventh. Resorts made a profit of $536,000 and Bally's lost $6.8 million.
The first quarter profits were high. Industry expert Jane Bokunewicz cites greater efficiency as the reason for the big boost in profits. The second and third quarter will be the peak of economic activity for Atlantic City Casinos. The higher occupancy levels will translate into higher demand for labor.
Ocean is the king of hotel stays in Atlantic City. The average rate per occupied room for the first quarter of 2022 is $209.46 per night. Ocean also has the highest room occupancy rate at 81.5%.