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ATLANTIC CITY — Today the New Jersey Division of Gaming Enforcement announced the 1st Quarter 2021 results.
Casino Licensees Financial Results:
According to financial reports filed with the Division of Gaming Enforcement (DGE), the casino licensees’ Net Revenue decreased 5.4% to $564.7 million for the three months ended March 2021. Additionally, Gross Operating Profit for the industry increased 221.9% for the quarter to $95.5 million. The casino hotels closed on March 16, 2020. Since reopening in July 2020, the casino hotels have operated with certain restrictions due to COVID-19.
The occupancy rate in the industry’s casino hotels for the three months ended March 2021 was 52.4%, which is 15.7 percentage points lower than the comparable period last year. Due to the COVID-19 pandemic, the casino hotels were closed on March 16, 2020 and began to reopen on July 2, 2020. The occupancy rates for 2020 excluded the duration of the shutdown period.
Click here for the DGE press release for additional information.