Perennial frontrunner Borgata topped the list of best-performing casinos in Atlantic City last year.
But the city’s newest gaming halls came in second and third. Hard Rock Atlantic City followed Borgata in terms of money won inside the casino in 2020, with $224.8 million, and Ocean Casino Resort won $183.5 million.
“The change this past year of Hard Rock and Ocean, to not only become comparable to Borgata but to overtake the Caesars Entertainment properties has been remarkable,” said Joe Lupo, Hard Rock’s Atlantic City president.
Ocean CEO Terry Glebocki said, “Where we are today versus where we were is truly night and day. The first 12 months the property was open, we lost $42 million. The most recent 12 months, including what I anticipate this month, we won $55 million.”
Jane Bokunewicz, coordinator of the Lloyd Levenson Institute at Stockton University, said both casinos brought something new to the table.
“Hard Rock’s focus on live entertainment with a full calendar of top artists pre- and post-pandemic breathed new life into a property that was built for shows and events,” she said. “Ocean retooled the former Revel property, adding casino amenities and maximizing the existing assets of the building, to create a luxury resort with a strong casino product.”
Luxor Capital Group, which bought the casino, told Glebocki to bring in more money and spend less. It worked. The property’s gross operating profit was $21.8 million, up 224 percent from a year earlier. Hard Rock’s gross operating profit last year was $10.9 million, down 71 percent from a year earlier.
Factoring in online betting and sports wagers, Golden Nugget would take the second place position; Hard Rock would drop to fourth place, and Ocean would rank sixth among the city’s nine casinos.
