July 2025
In LIGHT of the data.
Atlantic City’s casino operators started the third quarter on a high note, setting a new near-term, single-month total gross gaming revenue record with more than $577 million generated from all revenue streams — beating out last August's $528.5 million single-month high.
Internet gaming revenue continues to be a major contributor, setting its own new single-month revenue record, $247.3 million — outpacing the prior record of $246.8 million set this past May. Not to be left out, July 2025 brick-and-mortar gaming revenues of $284 million exceeded July 2024 by 4.3% — turning in the best single-month revenue for the year to date.
These positive results in brick-and-mortar revenue suggest that, even with record growth in internet gaming, visitors still enjoy the full resort experience of in-person gaming. This is especially true in the summer months when it is hard to compete with all that Atlantic City's beach and Boardwalk have to offer.
As for the year-to-date, Atlantic City's land-based operations have realized $1.66 billion in total gross gaming revenue — outpacing the same period in 2024 by 2.2% and comparing favorably to recent years. If this trend continues, we can expect to see both brick-and-mortar and total gross gaming revenues improve on 2024 by year-end. Whether this will translate to gross operating profits (a measure of industry profitability) is another question.
In the second quarter of 2025, we saw a continuation of trends from the first quarter. Although gross gaming revenues increased more than 18% in April-June 2025 compared to the same period in 2024, this growth translated to a less than 1% increase in quarter over quarter net revenue. Gross Operating Profit (GOP), an indicator of the industry’s overall performance, trended upward for the quarter, however, results for individual properties varied greatly.
As for the year-to-date, slight increases in second-quarter net revenues and GOP were not nearly enough to overcome the 15% lag in GOP observed at the end of the first quarter. Six months into 2025, the Division of Gaming Enforcement reports a nearly 4% decline in GOP compared to the same period in 2024 — which itself was nearly 5% behind the same period in 2023.
In a mature market with a slowing growth rate, as is the case in Atlantic City brick-and-mortar gaming, a common strategy is to increase spending on marketing to entice visitation. With Atlantic City casinos competing locally and regionally for the same customers, this could be a contributing factor in suppressing growth in net revenue and gross operating profits. This, of course, is not occurring in isolation. The cost of doing business continues to go up at a time when the business dynamics of popular internet gaming and sports wagering products may mean that Atlantic City’s casino operators are keeping less of the gross gaming revenue than ever.
Atlantic City Gaming Win & Total Casino Revenue
Source: N.J. Division of Gaming Enforcement
| Monthly Revenue (Casino Licensees, $ In Thousands |
July 2025 |
% Change from Prior Year | July 2024 | YTD
2025 |
% Change from Prior Year | YTD 2024 |
|---|---|---|---|---|---|---|
| Casino Gaming Win | $284,126 | 4.3% | $273,328 | $1,663,828 | 2.2% | $1,628,772 |
| Internet Gaming Win | $247,298 | 26.6% | $195,396 | $1,633,251 | 23.3% | $1,352,006 |
| Sports Wagering Revenue* | $46,239 | 7.4% | $43,049 | $354,625 | 37.7% | $257,620 |
| Total Gaming Win (includes Internet & Sports Wagering) | $577,664 | 13.1% | $510, 773 | $3,651,704 | 13.7% | $3,211,398 |
| Quarterly Revenue (Industry, $ In Millions)** | Q1 2025 | % Change from Prior Year | Q1 2024 | YTD March 31, 2025 | % Change from Prior Year | YTD March 31, 2024 |
|---|---|---|---|---|---|---|
| Casino | $389.99 | -6.6% | $417.74 | $389.99 | -6.6% | $417.74 |
| Rooms |
$137.58 |
-7.1% | $148.13 | $137.58 | -7.1% | $148.13 |
| Food & Beverage | $123.05 | -5.1% | $129.69 | $123.05 | -5.1% | $129.69 |
| Entertainment & Other | $79.71 | 7.2% | $74.37 | $79.71 | 7.2% | $74.37 |
| Casino Licensees Total Net Revenue | $730.34 | -5.1% | $769.92 | $730.34 | -5.1% | $769.92 |
| Gross Operating Profit (GOP) | $131.97 | -15.1% | $155.41 | $131.97 | -15.1% | $155.41 |
* Data as reported in New Jersey Division of Gaming Enforcement Monthly Financial Reports for individual licensees for respective months. May not match Monthly Press Releases and Statistical Summaries.
** Data agregated from New Jersey Division of Gaming Enforcement Quarterly Financial Reports for individual properties. May not match totals from Quarterly Press Releases and Statistical Summaries, which represent a 'snapshot' of data at the time of publication and are not retroactively updated.
Atlantic City Hotel Lodging
Source: N.J. Division of Gaming Enforcement
| Casino Hotel Lodging Statistics For the Period Ended March 30, 2025 & 2024 |
Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 |
|---|---|---|---|---|
| Occupancy percentage | 72.6% | 73.3% | 67.8% | 69.1% |
| Average Daily Room Rate (ADR) | $174.31 | $178.55 | $167.30 | $171.83 |
| Revenue Per Available Room (RevPAR)* | $126.46 | $130.88 | $113.43 | $118.73 |
* RevPAR= ADR X Occupancy Percentage
Atlantic City Casino Operator Taxes & Fees
Source: N.J. Division of Gaming Enforcement
Total Paid Taxes & Fees |
$216,503,000 | $210,199,000 | 3.00% | |||
|---|---|---|---|---|---|---|
Taxes & Fees |
Q1 2025 | Q1 2024 | % | |||
|
Casino Gaming Gross Revenue Tax |
$40,186,000 | $42,013,000 | -4.35% | |||
|
Internet Gaming Gross Revenue Tax |
$100,597,000 | $84,576,000 | 18.94% | |||
|
Sports Wagering - Retail Gross Revenue Tax (includes racetracks) |
$710,000 | $866,000 | -17.96% | |||
|
Sports Wagering - Internet Gross Revenue Tax (includes racetracks) |
$33,678,000 | $41,479,000 | -18.81% | |||
| Investment Alternative Tax/CRDA Obligations | $24,821,000 | $22,297,000 | 11.32% | |||
| 1.25% Additional Tax | $1,822,000 | $1,525,000 | 19.45% | |||
| 1.25% EDT | $1,517,000 | $2,582,000 | -41.26% | |||
| Luxury Tax | $7,525,000 | $9,074,000 | -17.07% | |||
| Tourism Promotion Fee | $1,744,000 | $1,825,000 | -4.45% | |||
| Hotel Room Fee | $2,593,000 | $2,706,000 | -4.16% | |||
| Hotel Room Surcharge | $1,729,000 | $1,804,000 | -4.16% | |||
| Parking Fees | $3,904,000 | $3,962,000 | -1,47% | |||
Atlantic City Casino Operator Spending
Source: Casino Association of New Jersey - Member Reported
| Total | $151,257,000 | $148,336,000 | 1.97% | ||
|---|---|---|---|---|---|
Purchase of Goods and Services From New Jersey Vendors(By County) |
Q1 2025 | Q1 2024 | % | ||
| Atlantic | $83,617,000 | $94,291,000 |
-11.32% |
||
| Bergen | $2,307,000 | $2,548,000 | -8.28% | ||
| Burlington | $2,965,000 | $3,343,000 | -11.31% | ||
| Camden | $4,212,000 | $5,451,000 | -22.73% | ||
| Cape May | $2,691,000 | $2,280,000 | 17.99% | ||
| Cumberland | $4,852,000 | $5,795,000 | -16.27% | ||
| Essex | $11,560,000 | 10,862,000 | 6.43% | ||
| Gloucester | 2,262,000 | 2,217,000 | 2.07% | ||
| Hudson | $435,000 | $541,000 | -19.58% | ||
| Hunterdon | $4,000 | $12,000 | -65.02% | ||
| Mercer | $4,488,000 | $3,764,000 | 35.83% | ||
| Middlesex | $4,484,000 | $3,764,000 | 19.13% | ||
| Monmouth | $3,471,000 | $2,678,000 | 29.61% | ||
| Morris | $1,931,000 | $892,000 | 116.54% | ||
| Ocean | $985,000 | $1,698,000 | -41.96% | ||
| Passaic | $1,788,000 | $1,083,000 | 65.12% | ||
| Salem | $87,000 | $81,000 | 8.40% | ||
| Somerset | $2,194,000 | $2,220,000 | -1.16% | ||
| Sussex | $3,000 | $4,000 | -19.91% | ||
| Union | $16,917,000 | $5,271,000 | 220.96% | ||
| Warren | $4,000 | $5,000 | -17.43% | ||
Other Spending |
Q1 2025 | Q1 2024 | % | |||
|---|---|---|---|---|---|---|
| Capital Expenditures | $37,731,000 | $42,769,000 | -11.78% | |||
| PILOT Contributions (Includes PILOT & additional payments under PILOT legislation) | $29,189,000 | $28,616,000 | 2.00% | |||
| CRDA Special Improvement District | $298,000 | $323,000 | -7.76% | |||
| Municipal/Atlantic City Fees- Water | $1,451,000 | $908,00 | 59.75% | |||
| Municipal/Atlantic City Fees- Sewer | $2,620,000 | $2,584,000 | 1.43% | |||
|
Municipal/Atlantic City Fees- Other (permits, boardwalk seating, mercantile etc.) |
$437,000 | $494,000 | -11.64% | |||
| Charitable Contributions | $161,691 | $273,239 | -40.82% | |||
Total Spending |
$223,145,000 | $224,305,000 | -0.52% |
|---|
Atlantic City Statistical Transportation Data
Source: South Jersey Transportation Authority
| Travel Mode | June 2025 |
June 2024 |
Change from Prior Year |
YTD 2025 |
YTD 2024 |
Change |
|---|---|---|---|---|---|---|
| AC Expressway | ||||||
| Total Toll-Paying Traffic Pleasantville Toll Plaza |
1,722,137 | 1.7% | 1,694,123 | 8,226,265 | -4.0% | 8,564,499 |
| AC Airport | ||||||
| Scheduled Service Passengers | 50,082 | -35.2% | 77,259 | 361,208 | -25.6% | 485,423 |
| Charter Passengers | 12,019 | -13.5% | 13,888 | 49,239 | -13.1% | 56,629 |
| Total Air Passengers | 62,101 | -31.9% | 91,147 | 410,447 | -24.3% | 542,052 |
Atlantic City Meetings and Conventions Data
Source: Vist Atlantic City
| June '25 | June '24 | % Change from Prior Year |
TOTAL 2025 YTD |
TOTAL 2024 YTD |
% Change from Prior Year |
|
|---|---|---|---|---|---|---|
| Conventions/Tradeshows/Meetings1 | ||||||
| # of Shows | ||||||
| # of Room Nights | ||||||
| # of Attendees3 | ||||||
| Delegate Spending | ||||||
| Boardwalk Hall Bookings | ||||||
| # of Shows | ||||||
| # of Attendees | ||||||
| Hotel Bookings | ||||||
| # of Shows | ||||||
| # of Room Nights | ||||||
| # of Attendees | ||||||
| Delegate Spending | ||||||
| Monthly Totals | ||||||
| # Convs_Trade_Mtgs / Boardwalk Hall / Hotel | ||||||
| # of Room Nights | ||||||
| # of Attendees | ||||||
| Delegate Spending | ||||||
1Includes Visit Atlantic City events booked at Boardwalk Hall
3Variance in attendance numbers due to revisions in calculating and tracking methods
Atlantic City Information
Atlantic City City Council approves proposal to develop Bader Field - As reported by The Press of Atlantic City, members of the City Council voted unanimously to approve a multibillion-dollar proposal to develop Bader Field, after the plan was advanced by the Casino Reinvestment Development Authority. The proposal, put forward by DEEM Enterprises, would include townhomes, duplexes, a high-rise residential tower and active recreation areas. Also planned are a promenade and boardwalk, an auto-themed museum, a new amphitheater and a public terrace.
First Visit Atlantic City Soar & Shore Festival brings week full of activities to the resort - As reported by The Press of Atlantic City, after a hiatus, the airshow returned to Atlantic City as part of a week of events that included Jimmy Johnson’s Atlantic City “Quest for the Ring” fishing tournament and ESPN’s Slippery Stairs competition. The Soar & Shore Festival is set to become a new landmark on the Atlantic City calendar.
Fusion Gyms to open in Atlantic City - As reported by The Press of Atlantic City and Casino.org, a state-of-the-art workout facility with premium amenities and ocean views has opened on land next to Showboat that had once been used for volleyball courts. The business contributes to citywide efforts to diversify amenities and experiences.
Ocean Casino Resort, Hard Rock Hotel & Casino Atlantic City, and Resorts Casino Hotel celebrate first Independence Day holiday in three years with a decent beach - As reported by The Press of Atlantic City, a $38.2 million beach replenishment project has repaired recurring erosion at the north end of the city's beaches. For the first time in three years, patrons of the three casinos were able to enjoy the holiday weekend at the adjacent beach. In recent years storms and normal tides had left little to no dry beach in front of the properties.
Owner of former Atlantic Club, puts one of the property's two hotel towers up for sale - As reported by The Press of Atlantic City, New York developer, and current owner of the former Atlantic Club casino, Rocco Sebastiani, has listed one of the property's two hotel towers for sale while he decides the fate of the rest of the property. Sebastiani has expressed difficulty in realizing his plan to develop the shuttered casino into a hotel-condominium complex.
Resorts Casino Hotel opens cocktail and tapas bar on the Atlantic City Boardwalk, completes improvements to the LandShark Bar & Grill - As reported by The Press of Atlantic City, as part of Resorts Casino Hotel’s efforts to expand its offerings beyond casino gaming, the property has opened a new cocktail and tapas bar. Maya, located at the southern end of Resorts’ Boardwalk-facing space, cost close to $1 million to develop. The property has also completed the renovation and expansion of LandShark Bar & Grill, adding a new tiki bar and deck as well as private cabanas and fire pits. Further reporting from The Press of Atlantic City, including remarks from Resorts President, Mark Giannantonio.
New Jersey Gaming News
Bill banning sweepstakes casinos advances to Governor - As recorded by the New Jersey Legislature and reported by Play NJ, a bill (A5447/S4282) that “prohibits sweepstakes model of wagering; establishes new penalties for unlawful gambling operations and practices; directs Division of Consumer Affairs and Division of Gaming Enforcement to enforce penalties,” has advanced through both chambers and been passed to the Governor for signature. Further reporting from Play NJ. As of Aug. 8, the bill had yet to be signed into law.
Legislature introduces bill banning micro-betting - As reported by Play NJ and Legal Sports Report, a bill ( A9571) banning micro-betting, or placing wagers on in-game events, has been introduced to the New Jersey Legislature.
New Asian gaming area at Borgata Atlantic City deemed a success - As reported by PlayNJ, a new 25,000-square-foot Asian gaming area that recently opened at Borgata Hotel Casino & Spa in Atlantic City has been considered a “strong success.” The space, which was completed in May, includes 51 table games, five private gaming salons and a dedicated Asian gaming space. There is also a high-limit gaming area and private bar.
Prohibition on sports wagering partnerships at public institutions of higher education signed into law - As recorded by the New Jersey State Legislature and the Office of Governor Phil Murphy, a bill (A4113/S2155) prohibiting sports wagering partnerships at public institutions of higher education was signed into law on July 8. As a result of this new law, retail and online sportsbooks are prohibited from entering into marketing partnerships with public colleges and universities in New Jersey. Further reporting by Casino.org.
National Gaming News
American Gaming Association releases new research on sweepstakes players and online casino advertising trends - According to a July 31 news release, the American Gaming Association has published new research, including a profile of sweepstakes casino players and study of online casino advertising trends. Researchers found that 90% of sweepstakes casino players considered the activity gambling and 68% said their reason for playing was to win real money.
California Attorney General releases opinion, says all Daily Fantasy Sports (DFS) is illegal - On July 3, the Attorney General's Office in California released an opinion on the legality of operating DFS in the state. According to Legal Sports Report's reading of the opinion, the Attorney General has stated that California law prohibits DFS operations. This is considered significant given many DFS operators are active in the state, building up player databases in anticipation of the legalization of sports betting in the state. Notably, the Governor's Office disagrees with the Attorney General on this matter.
Las Vegas ends four-month streak in gaming revenue declines in June, sees 11.3% less visitation for the month compared to 2024 - As reported by Casino.org, Las Vegas' gaming operators ended a four-month period of year-over-year gaming revenue declines with a 1% year-over-year increase in June. Also as reported by Casino.org, visitation to the resort has been down every month this year (January to June) compared to 2024 with an 11.3% decline in June year-over-year visitation, which marks the first double-digit percentage decline since February 2021.
Michigan Gaming Control Board (MGCB) sends 19 cease-and-desist letters to illegal online casino and sports betting companies - According to Legal Sports Report, the MGCB sent a series of cease-and-desist letters to illegal gaming operators in an effort to crack down on illicit gaming activities and protect consumers. MGCB is one of the most active regulators in shutting down the illegal, unregulated market. It had sent more than 40 cease-and-desist letters in the past year.
Pennsylvania reports record fiscal year end revenue - As recorded by the Pennsylvania Gaming Control Board (PGCB) and reported by Casino.org, Pennsylvania’s gaming industry set a new annual revenue record with nearly $6.4 billion generated in fiscal year 2024-2025.
Hospitality & Tourism News
Cape May County contracts with new operator for airport - As reported by The Press of Atlantic City, Cape May County has contracted with FlightLevel Cape May LLC to provide airside operator services at the airport in Lower Township. County government also approved an agreement with Aviation Sports Complex LLC, which has a long-term deal with the DRBA to build a 100,000-square-foot indoor sports facility at the airport.
City Council of Ocean City approves 3% tax on online vacation rentals - As reported by The Press of Atlantic City, council members in Ocean City approved a new 3% tax on online vacation rentals. The tax is expected to generate $1.8 million in new revenue for the city in 2026. An earlier version of the ordinance included an equal tax on other rental methods (booking through a Realtor or at a hotel), but this faced strong opposition and was ultimately removed from the approved version. At present, the tax will only apply to rentals booked through Vrbo, Airbnb and similar online platforms.
Department of Transportation approves partnership between United and JetBlue - As reported by Travel Weekly, the Department of Transportation has approved a partnership between United and JetBlue airlines. The partnership, being called BlueSky, will link the airlines' networks via an interline agreement. The companies will also offer reciprocal loyalty point accrual and redemption as well as reciprocal loyalty status privileges to patrons who will also be able to book United flights from JetBlue's website and vice versa.
Number of Canadians traveling to the U.S. by air falls by 22.1% in June - As reported by Casino.org, Statistics Canada has announced that the number of Canadians traveling into the U.S. by air dropped 22.1% in June, compared to the same month in 2024. This is consistent with a trend that has seen double-digit drops in both car and air travel in every month since April. According to Casino.org, a leading Canadian travel company, Flight Centre Canada, has released a study tracking changes in Canadian travel behavior.
TSA issues Request For Information (RFI), asks vendors to provide a vision for technology solutions to reduce workforce requirements - As reported by Travel Weekly, TSA has released an RFI. They are reportedly seeking opportunities to modernize the existing Screening Partnership Program, under which private companies are contracted to run screening operations at commercial airports with TSA oversight, with technology-forward solutions.
LIGHT Snapshots is a publication of the Lloyd D. Levenson Institute of Gaming, Hospitality & Tourism, Stockton University School of Business
Jane Bokunewicz, Ph. D., Faculty Director and Professor of Hospitality
