Atlantic City Archives

Atlantic City casinos ended 2024 with shrinking profits as rising costs and softer demand took a toll on business. Combined gross operating profit across the city’s nine casinos fell over 9 percent from the previous year, according to data released by the New Jersey Division of Gaming Enforcement. The total dropped to $675.1 million, down from $744.7 million in 2023. Just two casinos—Caesars and Hard Rock—posted profit increases. Caesars grew 10.7 percent, while Hard Rock rose 7.9 percent. Bally’s saw the biggest decline, with profits falling nearly 77 percent—from $11.1 million to just $2.5 million. Resorts Casino Hotel also struggled, reporting a 43.8 percent drop to $5.3 million. Golden Nugget’s profits dropped 39.5 percent to just over $18 million. Ocean Casino Resort fell 13.6 percent to $101.3 million. Borgata, the top earner in the market, saw a 7.7 percent drop to $208.5 million. Digital operators didn’t escape the slowdown either. Caesars Interactive Entertainment NJ reported a 3.5 percent dip in profits, ending the year at $22.8 million. Resorts Digital made $11.1 million before giving up its license in September. Its results now appear under Resorts Casino Hotel, which complicates direct year-over-year comparisons. When adding digital gaming, total gross operating profit for the market reached $709.1 million in 2024—a 9.2 percent drop from the prior year. Industry leaders attributed the downturn to broader economic challenges and rising operating costs. Mark Giannantonio, president of the Casino Association of New Jersey and head of Resorts Casino Hotel, called the numbers disappointing but not surprising. “These are challenging times, but we believe, working collaboratively with state and local stakeholders, we could start to see a turnaround and transform Atlantic City once again into a leading beachfront resort destination,” he said. Stockton University’s Jane Bokunewicz, who directs the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism, pointed to a slowdown in spending and more expensive operations. “Increases in expenses and drags on consumer demand (initially observed in the third quarter and following through into the fourth) likely resulted in the disproportionate decline,” she said. Bokunewicz also noted that as casinos compete for visitor spending, promotional costs and operating expenses have climbed. Despite the overall drop in profits, all nine casinos still operated in the black last year. James Plousis, chair of the New Jersey Casino Control Commission, pointed out that the financial results reflect larger market conditions. “Every casino was profitable in 2024, but increased costs were not unexpected and are apparent when profits are compared to other recent years,” he said. Average hotel occupancy across Atlantic City was 72 percent in 2024. Nightly room prices ranged from $105.80 at Golden Nugget to $270.42 at Ocean.

Atlantic City

Atlantic City Casinos Earned $675 Million in 2024 Down from $744 Million in 2023

Mohegan to End Management at Resorts Casino in 2024

The Ongoing New Jersey Casino Smoking Ban Still Running