The New Jersey Division of Gaming Enforcement has released the Q4 revenue figures for land-based casinos in the state. The nine licensed locations generated $757.6 million in revenue, a 0.4% decline from the same period in 2023.
The Q4 figures also provided an insight into how casinos performed across 2024, with revenue falling by just 0.1% compared to 2023, dropping from $3.23 billion to $3.22 billion. However, casinos were not so fortunate with gross operating profit, which declined by 9.3% from 2023 to 2024.
Small Declines Across Most New Jersey Casinos
Six casinos in New Jersey saw revenues decrease in 2024 compared to 2023. Harrah’s experienced the most significant decline, dropping 7.4% from $308.6 million in net revenue to $285.6 million. The final difference between 2023 and 2024 was around $3 million, so Harrah’s contributed significantly to the year-on-year fall.
That’s supported by most other casinos only experiencing slight revenue drops, with Tropicana seeing the next highest drop of 2.2%. Bally’s Atlantic City and Borgata saw revenues fall by less than 1%, while Golden Nugget (-1.7%) and Resorts Casino (-1.4%) only experienced small declines.
| Casino | 2023 Net Revenue | 2024 Net Revenue | Change |
|---|---|---|---|
| Bally’s AC | $199,992,000 | $199,608,000 | -0.2% |
| Borgata | $785,660,000 | $782,937,000 | -0.3% |
| Caesars | $254,030,000 | $257,427,000 | +1.3% |
| Golden Nugget | $161,914,000 | $159,183,000 | -1.7% |
| Hard Rock | $572,712,000 | $595,669,000 | +4.0% |
| Harrah’s | $308,654,000 | $285,671,000 | -7.4% |
| Ocean Resort | $491,859,000 | $500,769,000 | +1.8% |
| Resorts Casino | $160,663,000 | $158,492,000 | -1.4% |
| Tropicana | $296,373,000 | $289,759,000 | -2.2% |
| Total | $3,231,857,000 | $3,229,515,000 | -0.1% |
Three casinos saw revenues decline, with Ocean Resort adding 1.8% year-on-year and Caesars increasing its revenues by 1.3%. Meanwhile, Hard Rock added 4% in 2024 compared to 2023, which amounted to more than $20 million added to the state-wide total.
New Jersey Casino Gross Operating Profit Plunges
While the declines in net revenues were minor, the drops in gross operating profits were far more significant. For example, while Bally’s Atlantic City saw revenues fall by just 0.2%, its gross operating profits fell by over 76%. Several other casinos saw significant falls in gross operating profits as well, like Resorts Casino, which saw a 43.8% drop year-on-year, and Golden Nugget, which saw a 39.5% fall.
Six of the seven casinos where gross operating profits declined in 2024 saw drops higher than 10%. The one exception was the highest profit generator, Borgata, where the 7.7% decrease in profits still amounted to the highest monetary value drop year-on-year of any NJ casino.
Hard Rock managed to grow its profits by 7.9%, while Caesars oversaw an over 10% increase in profits in 2024.
Caesars Success Comes Amid Casino Innovation
Caesars Entertainment was one of the winners of the Q4 2024 revenue results, with its Caesars property increasing revenue and gross operating profits year-on-year in Q4 and 2024 as a whole. Caesars Entertainment also operates the Tropicana Casino and Harrah’s, which had much more mixed results, but the company is already looking to change that.
Caesars recently announced launching its first live dealer studio based in one of its New Jersey casinos, with the branded studio in Tropicana Atlantic City. The table will allow land-based players to play the same game as online players through Caesars Palace Online Casino. Whether this will help to boost Tropicana’s revenue in 2025 remains to be seen.
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Digital PR SpecialistMy love for gambling and casinos started early when my grandad handed me a video poker machine as a kid, sparking a lifelong fascination with the game. I grew up watching Celebrity Poker religiously and that turned into my organizing March Madness bracket tournaments all throughout elementary and high school—making every March a high-stakes competition among friends before I was even old enough to place a real bet.
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