Atlantic City casino report highlights $572m in Casino Revenue Fund contributions in 2024
The Stockton University report highlights the industry’s contributions to the city.
US.- The 2024 Impact: Atlantic City Casino Industry report from the Lloyd D. Levenson Institute of Gaming, Hospitality & Tourism (LIGHT) at Stockton University shows that Atlantic City casinos provided a record $572m to the Casino Revenue Fund in Fiscal Year 2024. Some $541m went to housing for people with developmental disabilities, $17m to community-based programmes for seniors, $5m for pharmaceutical assistance and $4m for personal assistance.e
The report, in collaboration with the Casino Association of New Jersey (CANJ), notes that internet gaming saw another year of revenue growth while traditional gaming revenue remained flat. Gross operating profit (GOP) totalled $709.2m in 2024, down 10 per cent compared to 2023.
Operators contributed $883.2m in casino taxes and fees, an 11 per cent increase, and spent $204.6m on capital improvements, reinvesting in casino resort infrastructure and amenities. The industry spent $605m on goods and services from New Jersey vendors and donated nearly $3.5m to the community.
The reports said that “despite recent challenges, such as increased operating costs, inflationary pressures and reduced visits, the casinos continued to invest in their properties to help ensure that Atlantic City remains relevant in the face of increasing competition from neighboring states. Since 2020, the industry has spent more than $1bn on revitalizing its properties.”
The industry is one of the largest employers in southern New Jersey with 23,000 employees: 19,000 are Atlantic County residents and 5,000 Atlantic City residents. There were 18 million visitors in 2024, a 1.2 per cent increase over 2023.
Jane Bokunewicz, faculty director of LIGHT at Stockton University, said: “The Atlantic City tourism landscape continues to evolve with the addition of new entertainment attractions and diverse business offerings, but the nine casino properties are still the strongest economic driver for the region – providing jobs for local residents, purchasing goods and services statewide, and increasing tax revenue for New Jersey.
“Taxes generated by the Casino Revenue Fund support important programs for seniors and people with disabilities. The second annual report highlights the immense economic contributions of the Atlantic City casino industry and illustrates the importance of all stakeholders working together to ensure their continued success.”
Mark Giannantonio, president of Casino Association of New Jersey (CANJ), added: “This report highlights the true impact Atlantic City casinos have in the community and across southern New Jersey. In 2024, the casinos offered visitors world-class hospitality and exciting experiences in state-of-the-art facilities, while continuing to deliver vital tax revenue for vulnerable New Jersey residents. We are proud of our contributions to the state and local economy.”
