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While part-time positions expanded from 2,897 in August 2018 to 3,051 last month, full-time jobs dropped significantly from 22,111 to 19,812 – a 10.4 percent decline.
The Press of Atlantic City’s David Danzis says overall summer employment was down almost three percent June through August. Hard Rock and Ocean Manaslot88 Casino opened in late June 2018, and with it came a hiring spree.
“In terms of human capital, they will hire larger numbers initially, often due to tight labor conditions, training needs, and unknown business volume predictability,” said Rummy Pandit, executive director of the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism at Stockton University, speaking to The Press.
“As training cycles are completed and the variables gain clarity, organizations will adjust to optimal levels of staffing based on operational demands. Which is perhaps why we are currently seeing a drop in the full-time employment numbers,” he concluded.
Same Old Story
Hard Rock and Ocean Resort brought a tidal wave of excitement and optimism to the beachfront gaming mecca that hadn’t been seen in more than a decade. Employment eclipsed the 30,000 mark for the first time in four years. But as the temperatures cooled, the pink slips heated up.
After a strong summer, Atlantic City saw a 4.5 percent reduction in casino positions in September 2018. At the time, Pandit said, “New properties can take anywhere from six months to a year to stabilize in its market segments, and will adjust staffing levels accordingly.”
The paramount question is, “Following Atlantic City’s stabilization, has the gaming market expanded too quickly?” Last month, Manaslot88 Casino.org reported that casino profits are down through the first six months of 2019.
Year to date, Atlantic City casinos have reported gross gaming revenue (GGR) of $1.85 billion – an 18.4 percent surge. But gross operating profits for the nine casinos are down 16.8 percent, a loss of $49.3 million. How?
Gross operating profit, per the DGE, “reflects earnings before interest, taxes, depreciation, amortization, charges from affiliates, and other miscellaneous items as reflected on each casino licensees’ income statement. It is a widely-accepted measure of profitability.”
While there’s more gaming money being won, it’s being spread out between two additional casinos, which is driving profits lower. However, the third quarter profit report will be the first that is appropriately comparable with nine versus nine casinos.
Borgata accounts for the bulk of the Atlantic City casino jobs, with 5,843 August employments. Hard Rock is a distant second at 3,936.
A query on job board Indeed.com did turn up some casino jobs, including some full-time positions.
Ocean Manaslot88 Casino needs a surveillance operator, a position tasked with “observing and reporting on all areas under surveillance and assuring the compliance with internal control standards.”
Tropicana is searching for an accountant, and Bally’s is hiring a casino floor supervisor. Resorts needs security personnel and a cashier, and Hard Rock a restaurant manager.