Figures released by the New Jersey Division of Gaming Enforcement show that Atlantic City's nine casinos collectively reported a decline in gross operating profit of 1.6% in 2023 compared to the previous year, despite the growth of the online gambling market. Including internet-only entities, the decline in profitability was 4.1% on earnings of $780 million. Only three casinos experienced an increase in profitability.
A gambler plays a slot machine at Harrah's casino in Atlantic City N.J., on Sept. 29, 2023. Figures released by New Jersey gambling regulators on April 8, 2024, show Atlantic City 's nine casinos collectively reported a gross operating profit of $744.7 million in 2023, a decline of 1.6% from 2022. – Atlantic City 's casinos were less profitable in 2023 than they were a year earlier, even with help from the state's booming online gambling market.
The figures “suggest it is getting more expensive for New Jersey’s casinos to operate, and patron spending may not be keeping pace,” said Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, which studies the Atlantic City gambling market. The statistics are certain to be used in the ongoing battle over whether smoking should continue to be allowed in Atlantic City's casinos. A group of casino workers that has been pushing state lawmakers for over three years to pass a law eliminating a provision in New Jersey's indoor smoking law that exempts casinos recently tried a new tactic.
The Borgata had the largest operating profit at $226.1 million, up 1.3%, followed by Hard Rock ; Ocean ; Tropicana ; Harrah's ; Caesars ; Bally's , and Resorts .
Atlantic City Casinos Profitability Decline Gross Operating Profit Online Gambling New Jersey
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