Golden Nugget the only Atlantic City casino not to lose money in Q2

Atlantic City casinos suffered a combined loss of $112m in the second quarter of 2020, with the Golden Nugget the only casino to post a positive result.

Figures released Monday by the New Jersey Division of Gaming Enforcement (DGE) show AC’s nine casinos (and two online-only operators) generated combined net revenue of $121.4m in the three months ending June 30, nearly 85% below the second quarter of 2019. That’s a worse performance than the overall US market, which suffered an 78.8% year-on-year decline according to the American Gaming Association.

AC’s casinos were ordered to close in mid-March and weren’t allowed to reopen until July (and even then, only at 25% capacity). The closure meant that the Q2’s revenue was generated entirely via online casino, poker and sports betting sites.

The Borgata casino led Q2’s revenue chart with a mere $30.9m, followed by the Golden Nugget (whose online site offers only casino products) with $25.7m while Caesars Interactive Entertainment (CIE) ranked third with $19m.