Atlantic City Casinos Enjoy Strong 2021, Surpass Pre-COVID Revenues

The casino and hospitality industry in Atlantic City, New Jersey felt the impact of the pandemic in 2020. Casino resorts were closed back then for more than three months due to the novel coronavirus (COVID-19). After the venues were allowed to reopen for visitors, various restrictions impacted their revenues. However, despite the challenging 2020, new data reveals that casinos are on the right track and their economic rebound already started in 2021.

AC’s Casinos on the Way to Economic Rebound

Last week Friday, the New Jersey Division of Gaming Enforcement (DGE) released data outlining the fourth quarter and year-end results for casinos in Atlantic City. Overall, the casino operators reported $174.4 million in profits during Q4, 2021. This result marked a significant 201% increase when compared to the $57 million they made during the same period in 2020.

Besides the fourth quarter, the full year 2021 results also looked well, according to DGE’s latest report. In 2021, licensed operators in Atlantic City made $766.8 million. Undoubtedly, this result proved that the market soared during 2021, considering that the casinos’ winnings for 2020 halted at $117.5 million.

What is more, the $766.8 million in winnings overshadowed the industry’s result from 2019, when they made $594 million. Considering the financial results from last year, it is clear that the gaming and hospitality industry in Atlantic City started its economic rebound.

Operators Enjoy Strong Q4, Successful 2021

In 2021, the Borgata Hotel Casino has reported the highest revenue. The property’s profits last year hit $174.1 million, up from the $650,000 in 2020. Similarly, Borgata has reported strong revenue during Q4, 2021. For the fourth quarter of 2021, the venue’s winnings hit $47.4 million, marking a significant increase from the $15.9 million from Q4 2020.

Tropicana was the operator that made the second-highest revenue in 2021. For the full year, the operator has seen profits of $118.7 million, up from the $18.7 million in 2020. During the fourth quarter, Tropicana did well too. It reported $26.3 million in winnings, up 405% from the $5.2 million reported during Q4 2020.

Last year was successful for Hard Rock Atlantic City as well. For 2020, the property reported winnings of $10.9 million. However, Hard Rock’s revenue increased significantly last year hitting $106.8 million. Harrah’s Atlantic City reported $99.5 million in winnings during 2021, up from the $8.5 million in 2020. On the other hand, the Ocean Resort reported $27.6 million in winnings during 2021, up from the $21.9 million from the prior year. Caesars won $62.1 million in 2021, while the Golden Nugget reported $35.6 million in winnings last year.