Ocean Casino Resort fared better than the eight other casinos in Atlantic City during the pandemic-stricken 2020 year.
Financial statistics released by the New Jersey Division of Gaming Enforcement (DGE) reveal that Ocean managed to turn in a nearly $21.9 million gross operating profit for 2020. That’s up $6.7 million on 2019 for the Boardwalk casino’s bottom line.
Gross operating profit reflects earnings before interest, taxes, depreciation, amortization, and other miscellaneous items on a casino’s income statement. It is a widely-accepted measure of profitability in the Atlantic City gaming industry.
“Despite 2020’s extraordinary challenges, Ocean showed continued growth,” Terry Glebocki, Ocean’s CEO, said in a statement to the Associated Press.
Thanks to our team’s hard work and determination in the months before and after our temporary closure due to the global pandemic, Ocean had a successful year. As restrictions ease and we reopen additional areas of our business, I’m optimistic we’ll continue to see gaming growth throughout 2021,” she concluded.