Only two of the nine casinos had higher operating profits in 2022 than in 2021: Hard Rock and Ocean. However, Giannantonio also noted that the pressure on earnings was not solely due to higher labor costs. Mark Giannantonio, president of Resorts Casino and the Casino Association of New Jersey 'You have revenue that's not growing fast enough, and couple that with expenses in some categories that are up 20 to 25% or more, and you can see how quickly this can erode profits,' he said, as reported by the Associated Press. Mark Giannantonio, president of Resorts Casino and the Casino Association of New Jersey, said that inflationary pressures were a factor in the casinos' financial struggles last year. Only four casinos had an operating profit higher than they reported in 2019, the last full year before the pandemic broke out. Figures released by the New Jersey Division of Gaming Enforcement show that the city's nine casinos had a gross operating profit of $731.2 million in 2022, down from $766.8 million in 2021. Atlantic City's casinos are still feeling the impact of the COVID-19 pandemic, with profits down 4.6% in 2022 compared to the previous year.

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