Atlantic City, USA – The New Jersey Division of Gaming Enforcement has released the latest financial results for Atlantic City’s nine casinos, revealing a mixed year in 2022. The aggregated operating profit for these casinos was $731.2 million, marking a 4.6% decrease compared to the previous year.
Overall Profit Performance:
In 2022, Atlantic City’s nine casinos collectively reported an operating profit of $731.2 million, representing a 4.6% dip from 2021. While the industry faced challenges, two casinos managed to shine in the face of adversity.
Positive Performers:
Hard Rock: Hard Rock Casino saw a remarkable 20% increase in its operating profit, reaching over $128 million.
Ocean: Ocean Casino experienced a 5.5% growth in its operating profit, totaling $96.2 million.
Struggling Casinos:
On the flip side, several casinos faced profit declines in 2022:
Bally’s: Recorded a loss of $1.8 million, compared to a profit of $13.1 million in 2021.
Borgata: Experienced a significant drop of 19.4%.
Caesars: Saw a 2.7% decrease in operating profit.
Harrah’s: Registered a 10% loss.
Resorts: Faced a substantial decline of 24%.
Tropicana: Struggled with a 7.6% decrease in profits.
Revenue and Profit Metrics:
Despite the dip in operating profit, the casinos collectively reported a net revenue of $3.3 billion for the calendar year, reflecting a healthy 9.3% increase from 2021. However, the Gross Operating Profit of $731.3 million marked a decrease of 4.6% compared to the previous year.
Tropicana’s Reward Center Innovation:
In a bid to enhance the player experience, Tropicana Atlantic City Casino in New Jersey unveiled its new Caesars Rewards Experience Center. This cutting-edge concept allows guests to redeem their reward credits conveniently, located near the Caesars Sportsbook.
Joe Giunta, Senior Vice President, and General Manager for Tropicana Atlantic City, expressed excitement about this development, stating, “We are thrilled to introduce this cutting-edge concept to Tropicana Atlantic City, elevating Atlantic City’s Best Player’s Club with a best-in-class loyalty center.”
Atlantic City’s casino industry experienced a mixed year in 2022, with some establishments thriving while others faced challenges. Despite the overall dip in operating profits, the industry saw healthy revenue growth. The introduction of innovative player reward experiences, such as Tropicana’s Caesars Rewards Experience Center, reflects the industry’s commitment to enhancing the customer experience.