![]() Hard Rock posted the largest operating profit at $30.4 million, but it was still down 20% from a year earlier. The casinos currently employ about 1,000 more people than they did a year ago, he said. The fact that all nine casinos were profitable despite higher costs is encouraging, said James Plousis, chairman of the New Jersey Casino Control Commission. “Given the increases in labor expenses that did not exist prior to July 2022 and increases in operational expenses overall, this decline is not unexpected,” she said. Its decline in the second quarter is due to several factors, including a new contract reached last summer that pays many casino workers considerably more, said Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, which studies the Atlantic City gambling industry. ![]() Gross operating profit represents earnings before interest, taxes, depreciation, and other expenses, and is a widely-accepted measure of profitability in the Atlantic City casino industry. That is down 20.5% from the same period a year ago, and also less than the $159 million operating profit they posted in the second quarter of 2019. Figures released Tuesday by the New Jersey Division of Gaming Enforcement show the casinos posted a gross operating profit of nearly $146 million in the second quarter of this year.
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