Atlantic City casino revenue falls in 2024
Gross operating profit for Atlantic City’s nine casinos decreased by 9.2 per cent from 2023.
US.- The New Jersey Division of Gaming Enforcement has released revised figures for the quarter ending December 31 and full year 2024. Full-year net combined revenue from Atlantic City’s casinos was $3.31bn, down 0.5 per cent from 2023. Combined gross operating profit was $709.1m, down 9.2 per cent year-over-year.
Casino licensees reported Q4 net revenue of $768.9m, a 1.7 per cent decrease year-on-year. Gross operating profit was $132.5m, a 10.8 per cent decrease.
All nine casinos in Atlantic City turned a profit in 2024, but only Caesars and Hard Rock saw operating profits grow: Caesars by 11 per cent and Hard Rock by 8 per cent. Bally’s gross operating profit decreased by 77 per cent compared to 2023, Resorts Casino by 44 per cent and Golden Nugget by 40 per cent.
The occupancy rate in casino hotels for the quarter ended December 31 was 65.6 per cent, a decrease of 0.9 percentage points compared to the same quarter in 2023. The occupancy rate for the full-year was 72 per cent, a decrease of 1 percentage point.
