Casino revenues in Atlantic City declined by 9% in 2024, yet all nine establishments reported profits.
In the gaming hub of Atlantic City, the nine casinos collectively reported a gross operating profit of $709.1 million in 2024, marking a 9% decline from the previous year. Despite this decrease, the casinos remained profitable, with Borgata leading the pack, earning $208.6 million in profits.
The slight revenue decline can be attributed to a 1.1% decrease in in-person casino revenue from slot machines and table games, which totaled $2.81 billion in 2024. However, it's important to note that only two casinos, Caesars and Hard Rock, experienced an increase in profits compared to 2023, with Caesars seeing an 11% year-over-year increase and Hard Rock a 8% increase.
The occupancy rate for casino rooms in Atlantic City also saw a slight decrease, with the average nightly rate remaining stable at $178 but the occupancy rate dropping by 1% to 72%.
Despite these challenges, industry experts remain optimistic about the future of Atlantic City. Mark Giannantonio, president of Resorts and the Casino Association of New Jersey, believes the 2025 summer entertainment lineup will be stronger and busier than the previous year, heralding a "renaissance" for the city. He forecasts that the 2025 summer will begin a new era and heyday for the city, citing Atlantic City's value proposition with incredible shows and world-class restaurants.
The recent restoration of the beach along the northern part of the Boardwalk is also expected to attract more leisure travelers during the warmer months, further boosting the city's economy.
Industry insiders and recent reporting suggest that legacy brick-and-mortar casino play in Atlantic City slowed by 1.1% in 2024 compared to 2023. However, the most detailed recent data available is for May 2025, which saw Atlantic City casinos post a total gaming revenue of $614.7 millionβa more than 20% increase over May 2024. This figure includes casino win, internet gaming, and sports wagering. For in-person casino play specifically, May 2025 saw $265.3 million in revenue, up 10.9% year-over-year from May 2024.
While the full-year 2024 results for the nine casinos are not detailed in current public reports, the available data indicate that in-person casino revenue for Atlantic City casinos declined slightly in 2024 compared to 2023, but do not provide a precise figure for total annual revenue. It's worth noting that the Las Vegas Strip remained the top US market with nearly $8.2 billion in 2024, about three times more than Atlantic City as the second-highest market. This suggests Atlantic Cityβs total market was likely between $2.5 and $3 billion for the year, but this is an estimate based on comparative data.
In conclusion, while the 2024 financial performance of Atlantic City casinos showed a slight decline in revenue compared to 2023, the city remains a significant player in the US gaming market. With promising trends in 2025, particularly in internet gaming and sports wagering, and the restoration of the beach along the Boardwalk, experts remain optimistic about the future of Atlantic City as a popular leisure destination.
- Caesars and Hard Rock were the only casinos in Atlantic City that saw an increase in profits in 2024, with Caesars recording an 11% year-over-year increase and Hard Rock a 8% increase.
- Mark Giannantonio, president of Resorts and the Casino Association of New Jersey, anticipates a stronger and busier summer entertainment lineup in 2025 for Atlantic City, anticipating a "renaissance" for the city.
- The recently restored beach along the northern part of the Boardwalk in Atlantic City is expected to attract more leisure travelers during the warmer months.
- Despite a slight decrease in in-person casino revenue from slot machines and table games in 2024, the casino industry remains optimistic about the future of Atlantic City.
- In 2025, Atlantic City casinos posted a total gaming revenue of $614.7 million in May, marking a more than 20% increase over May 2024.
- Although the Las Vegas Strip remained the top US market with nearly $8.2 billion in 2024, Atlantic City is still considered a significant player in the US gaming market.
- The recent data available indicate that in-person casino revenue for Atlantic City casinos declined slightly in 2024 compared to 2023, but the full-year 2024 results are not yet detailed in public reports.
- Borgata led the pack in profits among Atlantic City casinos in 2024, earning $208.6 million.
- Industry experts continue to watch the growth of internet gaming and sports wagering in Atlantic City, which are promising trends for the city as a popular leisure destination.
