Atlantic City casinos re-open after storm
The casinos were closed Friday night in anticipation of the storm, which ended up causing minimal structural damage. This morning, New Jersey Division of Gaming Enforcement Acting Director David Rebuck signed separate orders allowing each individual casino to reopen on or before noon today.
The shutdown and its aftermath, coming during the busy summer season, proved costly. Tony Rodio, president and chief executive officer of Tropicana Casino and Resort, estimated the three-day shutdown cost the industry $40 million to $45 million in lost gaming revenue, according to the Press of Atlantic City. Additionally, Caesars Entertainment Atlantic City’s biggest operator with four casinos, lost about $6 million to $8 million in cash flow from $25 million in revenue it would have expected at its New Jersey and Philadelphia properties, chief executive officer Gary Loveman told CNBC.
Gaming executives told the Press that they expect business to be light until the industry fully ramps up in a day or two. “Caesars Atlantic City and Trump Plaza Hotel and Casino, for instance, had only sparse crowds shortly after reopening,” the Press reported.