![]() That significantly increased the amount of the casino's reported gross operating profits, the division said. But the gaming enforcement division said the Borgata recently changed the way it treated some rent expenses, moving them from the category of an operating expense to a non-operating expense for accounting purposes. The Borgata reported a profit of $73.5 million, down 1.7% from a year ago. James Plousis, chairman of the New Jersey Casino Control Commission, noted that third-quarter gross operating profit was the third-best in Atlantic City since 2008, despite negative effects from a cybersecurity issue affecting the parent companies of four casinos. ”That said, it did outperform pre-pandemic 2019 for both net revenue and gross operating profit, suggesting that this could be part of a cycle of stabilization." “In keeping with the experiences of many resort communities along the New Jersey shore, Atlantic City saw a bit of a cooling off in summer 2023 compared to the pent-up post-pandemic energy seen in 20, said Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, which studies the Atlantic City casino industry. ![]()
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