Atlantic City’s casino sector faced a setback in the first quarter of 2024, with combined profits dropping by nearly 10%, according to public filings. Only two out of the nine casinos reported higher profits compared to the same period last year.
Declining profits in Q1:
The nine casinos collectively recorded a gross operating profit of $140.4 million from January to March 2024, marking a significant decline of 9.6% from the first quarter of 2023. When factoring in internet-only entities, the total profit amounted to $155.4 million, representing an 8.7% decrease from the previous year.
As the Associated Press reports, Jane Bokunewicz, director of the Lloyd Levenson…