October 2025
In LIGHT of the data.
Atlantic City casino operators have extended the success of the summer season with
the best October monthly total brick-and-mortar gross gaming revenue since 2011 ($261.4
million). In a rare turn of events, October brick-and-mortar revenues ($234.7 million)
outperformed September 2025 ($230.7 million), which is unexpected in a period that
is traditionally slower for the resort.
Despite this strong showing, internet gaming revenues again managed to exceed brick-and-mortar.
October marks the six month in the past 10 months when this has occurred. Brick-and-mortar
consistently exceeded internet returns in the heart of the summer season (May to August).
When combined with record sports wagering gross gaming revenue for casino operators,
October’s brick-and-mortar and internet gaming revenues set a new near-term record
for total October gross gaming revenue.
Year-to-date, Atlantic City’s casino operators have pulled ahead of 2024 by more than
13% in total gross gaming revenue and by more than 3% in just brick-and-mortar returns.
The third quarter data from the DGE confirms what had been feared – this summer’s
record total Gross Gaming Revenues simply did not translate into Gross Operating Profit
gains for Atlantic City’s casino operators.
While 2025 Net Revenue remained on par with 2024’s, it was not enough to stop a trend
of decreases in third quarter gross operating profits (GOP). Since a near-term peak
of nearly $311 million in third quarter GOP in 2021, GOP for the third quarter has
consistently declined year to year.
Likewise, occupancy for the quarter, while on par with third quarter 2024 (84.15%),
came at the expense of an over $5 decrease in year-over-year average daily room rate
and 17,579 fewer available room nights.
Year-to-date data shows evidence of similar pressures on Net Revenue, Occupancy and
Gross Operating Profit consistent with national economic trends. Notably, while there
seems a great degree of variability of experience/performance among Atlantic City’s
gaming operators, “luxury” casino brands appear to be more insulated from recent market
disruptions than others.
While these observed trends are concerning, they are not unique to the gaming industry
or to Atlantic City’s casinos. Operating costs continue to increase across tourism,
hospitality and service industries, even as consumers find it more difficult to afford
daily necessities let alone rare indulgences.
Atlantic City Gaming Win & Total Casino Revenue
Source: N.J. Division of Gaming Enforcement
| Monthly Revenue (Casino Licensees, $ In Thousands |
October 2025 |
% Change from Prior Year | October 2024 | YTD
2025 |
% Change from Prior Year | YTD 2024 |
|---|---|---|---|---|---|---|
| Casino Gaming Win | $234,736 | 12.5% | $208,717 | $2,441,212 | 3.4% | $2,362,142 |
| Internet Gaming Win |
$260,270 |
21.8% |
$213,630 |
$521,481 | 31.5% | $396,711 |
| Sports Wagering Revenue* | $71,820 | 82.5% | $39,351 | $2,385,016 | 22.6% | $1,945,131 |
| Total Gaming Win (includes Internet & Sports Wagering) | $566,825 | 22.8% | $461,699 | $5,347,710 | 13.7% | $4,703,985 |
| Quarterly Revenue (Industry, $ In Millions)** | Q3 2025 | % Change from Prior Year | Q3 2024 | YTD September 30, 2025 | % Change from Prior Year | YTD September 30, 2024 |
|---|---|---|---|---|---|---|
| Casino | $449.23 | 4.1% | $431.61 | $1,265.02 | 0.2% | $1,236.01 |
| Rooms | $229.16 | -3.8% | $238.33 | $542.42 | -4.7% | $569.15 |
| Food & Beverage | $162.55 | -1.6% | $165.13 | $425.05 | -3.3% | $439.40 |
| Entertainment & Other | $101.15 | -6.4% | $108.10 | $399.24 | 47.2% | $271.30 |
| Casino Licensees Total Net Revenue | $942.09 | -0.1% | $943.16 | $1,366.71 | 6.8% | $1,279.84 |
| Gross Operating Profit (GOP) | $236.22 | -2.7% | $242.86 | $556.89 | -3.4% | $576.66 |
* 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. Does not include Racetracks.
** 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 September 30, 2025 & 2024 |
Q3 2025 | Q3 2024 | YTD 2025 | YTD 2024 |
|---|---|---|---|---|
| Occupancy percentage | ||||
| Average Daily Room Rate (ADR) | ||||
| Revenue Per Available Room (RevPAR)* |
* RevPAR= ADR X Occupancy Percentage
Atlantic City Casino Operator Taxes & Fees
Source: N.J. Division of Gaming Enforcement
Total Paid Taxes & Fees |
223,988,000 | 207,872,000 | 7.8% | |||
|---|---|---|---|---|---|---|
Taxes & Fees |
Q2 2025 | Q2 2024 | % | |||
|
Casino Gaming Gross Revenue Tax |
$45,474,125 | 45,303,000 | 0.4% | |||
|
Internet Gaming Gross Revenue Tax |
106,943,142 | 85,137,000 | 25.6% | |||
|
Sports Wagering - Retail Gross Revenue Tax (includes racetracks) |
763,898 | 460,000 | 66.1% | |||
|
Sports Wagering - Internet Gross Revenue Tax (includes racetracks) |
36,085,737 | 31,483,000 | 14.6% | |||
| Investment Alternative Tax/CRDA Obligations | 27,014,854 | 22,940,000 | 17.8% | |||
| 1.25% Additional Tax | 2,039,459 | 1,195,000 | 70.7% | |||
| 1.25% EDT | 1,526,451 | 1,899,000 | -19.6% | |||
| Luxury Tax | n/a | 12,497,000 | n/a | |||
| Tourism Promotion Fee | n/a | 2,264,000 | n/a | |||
| Hotel Room Fee | 3,021,093 | 3,070,000 | -1.6% | |||
| Hotel Room Surcharge | 2,014,062 | 2,047,000 | -1.6% | |||
| Parking Fees | 4,140,510 | 4,694,000 | -11.8% | |||
Atlantic City Casino Operator Spending
Source: Casino Association of New Jersey - Member Reported
| Total | $165,803,924 | $154,678,000 | 7.19% | ||
|---|---|---|---|---|---|
Purchase of Goods and Services From New Jersey Vendors(By County) |
Q2 2025 | Q2 2024 | % | ||
| Atlantic | $96,449,821 | $100,051,000 | -3.6% | ||
| Bergen | $1,763,377 | $2,542,000 | -30.6% | ||
| Burlington | $3,166,977 | $3,859,000 | -17.9% | ||
| Camden | $4,995,742 | $5,117,000 | -2.4% | ||
| Cape May | $2,588,684 | $2,021,000 | 28.1% | ||
| Cumberland | $5,826,216 | $5,585,000 | 4.3% | ||
| Essex | $9,958,985 | $10,880,000 | -8.5% | ||
| Gloucester | $2,483,985 | $2,621,000 | -5.2% | ||
| Hudson | $589,799 | $621,000 | -5.0% | ||
| Hunterdon | $20,210 | $28,000 | -27.8% | ||
| Mercer | $1,5925,711 | $3,690,000 | 331.6% | ||
| Middlesex | $4,063,079 | $3,425,000 | 18.6% | ||
| Monmouth | $4,560,199 | $2,689,000 | 69.6% | ||
| Morris | $1,080,211 | $1,565,000 | -31.0% | ||
| Ocean | $1,700,347 | $880,000 | 93.2% | ||
| Passaic | $1,928,613 | $926,000 | 108.3% | ||
| Salem | $103,064 | $122,000 | -15.5% | ||
| Somerset | $2,674,073 | $2,630,000 | 1.7% | ||
| Sussex | $2 | 0 | N/A | ||
| Union | $5,917,508 | $5,421,000 | 9.2% | ||
| Warren | $7,000 | $4,000 | 82.9% | ||
Other Spending |
Q2 2025 | Q2 2024 | % | |||
|---|---|---|---|---|---|---|
| Capital Expenditures | $6,1344,192 | $47,678,000 | 28.7% | |||
| PILOT Contributions (Includes PILOT & additional payments under PILOT legislation) | $32,086,110 | $29,788,000 | 7.7% | |||
| CRDA Special Improvement District | $299,199 | $331,000 | -9.6% | |||
| Municipal/Atlantic City Fees- Water | $1,478,631 | $1,253,000 | 18.0% | |||
| Municipal/Atlantic City Fees- Sewer | $3,353,265 | $3,445,000 | -2.7% | |||
|
Municipal/Atlantic City Fees- Other (permits, boardwalk seating, mercantile etc.) |
$1,384,243 | $1,190,218 | 16.3%% | |||
| Charitable Contributions | $307,374 | $310,000 | -0.8% | |||
Total Spending |
$266,057,000 | $238,673,000 | 11.5% |
|---|
Atlantic City Statistical Transportation Data
Source: South Jersey Transportation Authority
| Travel Mode | September 2025 |
September 2024 |
Change from Prior Year |
YTD 2025 |
YTD 2024 |
Change |
|---|---|---|---|---|---|---|
| AC Expressway | ||||||
| Total Toll-Paying Traffic Pleasantville Toll Plaza |
1,516,311 | 1,556,850 | -2.6% | 13,553,637 | 13,927,414 | -2.7% |
| AC Airport | ||||||
| Scheduled Service Passengers | 56,794 | 59,600 | -4.7% | 574,644 | 718,328 | -20.0% |
| Charter Passengers | 13,514 | 14,089 | -4.1% | 88,393 | 99,106 | -10.8% |
| Total Air Passengers | 70,308 | 73,689 | -4.6% | 663,037 | 817,434 | -18.9% |
Atlantic City Meetings and Conventions Data
Source: Vist Atlantic City
| October '25 | October '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
Casino Reinvestment Development Authority (CRDA) board votes to approve acceptance of grant, sale of former strip club - As reported by The Press of Atlantic City, on October 21, the CRDA board voted to approve the acceptance of a $5 million grant from the state Department of Community Affairs aimed at putting on events to attract tourists. The board also plans to accept a $175,000 bid for a former Pacific Avenue strip club that it owns. The property, Delilah’s Den, which has fallen into serious dispair would cost the CRDA $250,000 to demolish.
City Council votes unanimously to cap number of canabis dispensaries in the city - As reported by The Press of Atlantic City, members of City Council voted 8-0 to establish a cap on the number of retail cannabis dispensaries in the resort. The recommendation was for 16 total licenses including 12 annual licenses and four micro licenses, which are for business owners who are restricted in space and employees. There are presently 15 cannabis retailers in Atlantic City, along with two cultivators and one manufacturer. Two of the retail businesses include an approved consumption lounge. Approvals are in place for a further two businesses and more than 60 businesses are actively seeking licenses through the state Cannabis Regulatory Commission.
City names block for philanthropists Rita and Anthony Mack - As reported by The Press of Atlantic City, the city honored local philanthropists Rita and Anthony Mack by nameing a block of Arctic Avenue in midtown (near the Tanger Outlets) in their honor. Before retiring in 2024, the Macks operated two McDonald’s franchises in the city for 38 years while donating their time and money to local causes. In addition to serving on numerous community boards, the couple have also established scholarships for Tennessee State University, where they met, Atlantic Cape Community College and Stockton, where they were recently recognized for donating $150,000 to create a new scholarship through their A&R Mack Foundation.
Park in Atlantic City's Westside neighborhood dedicated - As reported by The Press of Atlantic City, The city held a ribbon-cutting ceremony for Weekes Memorial Park on Oct. 28. The park commemorates the legacy of George Weekes Sr., the first Black man to own a business on Atlantic Avenue. Years of work to restore the Indiana Avenue site included new landscaping, improved lighting, sustainable design elements, public art and full accessibility.
State to invest $20 million in Renaissance Plaza - As reported by The Press of Atlantic City, the state of New Jersey is committing $20 million to redevelop Renaissance Plaza. The investment includes $11 million to acquire a land lease for the property and $8.9 million to be spent on other improvements, including new roofs for the buildings at the plaza; new heating, ventilation and air conditioning systems; facade improvements, and beautification and landscaping. The Casino Reinvestment Development Authority has voted to allow its executive director to negotiate and sign a lease with the owners of the Save A Lot located in the plaza. The lease and support from the state Economic Development Authority is expected to allow the store to expand by about 30% and upgrade its offerings. Work is expected to be completed by December 2026. Additional reporting from The Press of Atlantic City.
Stockton University host Community Day - As shared in an October 27 press release, Stockton University's Atlantic City campus hosted its fourth annual Community Day. The day's activities included a city wide clean-up initiative and a celebration in O'Donnell Park.
New Jersey Gaming News
Caesars’ $400 million Atlantic City revamp nears completion - As reported by PlayNJ, Caesars is nearing completion of a 4-year, $400 million capital investment campaign. Included in the campaign was the renovation and rebranding of the 604 room West Tower located in the west wing of Tropicana Atlantic City. The newly named 'Solana Tower', is expected to open in January 2026. Caesars also recently upgraded 2,500 rooms at Harrah’s Resort, 600 guest rooms and suites in Caesars’ Centurion and Ocean Towers, as well as Harrah’s Atrium Tower. It also opened a Nobu Hotel at Caesars Atlantic City and renovated the pool. Additional reporting from The Press of Atlantic City.
Caesars, Harrah's and Tropicana casinos raise $129K for breast cancer research - As reported by The Press of Atlantic City, Caesars, Harrah's and Tropicana casinos joined together to raise $129K for breast cancer research. The three properties, operated by Caesars Entertainment, raised the funds through the American Cancer Society’s Men Wear Pink campaign.
New Jersey Division of Gaming Enforcement (DGE) fines two operators for numerous violations - As reported by The Press of Atlantic City, the DGE fined SBOpco LLC (SuperBook) and Digital Gaming Corp. (SuperGroup brands including Betway) $20,000 and $112,188 respectivly for numerous violations. Superbook unilaterally changing five bets on a Feb. 12, 2022, UFC match between William Knight and Maxim Grishin and also took bets on several unapproved events, including college basketball games involving New Jersey teams. Betway violated regulations pertaining to the state's self-exclusion list multiple times between March 2024 and January 2025 and was accused of allowing patrons to exceed maximum monetary limits they had set for themselves. Superbook stopped doing business in New Jersey and seven other U.S. states — Colorado, Arizona, Tennessee, Ohio, Iowa, Maryland and Virginia — in July 2024. Betway sportsbook ceased operations in New Jersey in August 2024; its online casino brands Jackpot City and Spin Casino stopped operating in the U.S. on Oct. 16.
New Jersey legislators introduce bill banning sports wagering 'micro bets' - According to the state legislature and as reported by Play NJ, state legislators have proposed a bill (S4794/A5971) which "Prohibits sports wagering licensees from offering micro bets" and establishes penalties for violators. The bill establishes a distinction between common prop bets and micro bets, defining a micro bet as "a proposition bet which is wagered live, while a sport or athletic event is ongoing, and concerns the outcome of the next play or action occurring in the sport or athletic event."
National Gaming News
Missouri Gaming Commission issued the temporary sports betting licenses - According to Legal Sports Report, Missouri regulators have granted temporary licenses to 10 sportsbooks ahead of the state's December 1 launch of legal sports betting. Missouri sports betting will mark the first new online betting market since North Carolina opened in March 2024. Two brands, DraftKings and Circa, have won 'untethered' licenses which will allow them to operate without a market-access partner.
NCAA to allow college athletes, staff to wager on pro sports - According to an October 8 Governance Update from the NCAA, members of the DI Administrative Committee have adopted a proposal to allow student-athletes, staff to bet on pro sports. As reported by ESPN, the rule change which would have gone into effect November 1 was delayed to November 22. Even if the NCAA permits student-athletes to wager on pro sports, they are still forbidden to wager on college sports ot to share information about college competitions with bettors. Additional reporting from Casino.org.
Pennsylvania legislators eye increase to sports betting tax in 2026, operators expected to pass costs on to customers - According to Legal Sports Report and PlayPennsylvania, Pennsylvania legislators are considering an increase to the states sports betting tax rate. At 36%, the rate that Pennsylvania currently levies on operators is the second-highest in the US behind New York’s 51%. Higer costs resulting from a tax increase are likely to be passed on to consumers.
Hospitality & Tourism News
Air Traffic Control staffing shortages begin delaying flights, Federal Aviation Administration (FAA) calls for travel reductions - As reported by NPR and Reuters, beginning early October, several FAA facilities begn seeing staffing shortages resulting from the government shutdown. According to Reuters and CNN as of November 7, U.S. Transportation Secretary Sean Duffy had ordered a 4% cut in flights at 40 major U.S. airports warning that the percentage could soon rise to 15-20%. Duffy cited safety concerns resulting from persistent staffing shortages. The shutdown, the longest in U.S. history, has forced 13,000 air traffic controllers and 50,000 Transportation Security Administration agents to work without pay. As reported by The Press of Atlantic City, Atlantic City International Airport (ACY) is not included on a list of 40 U.S. airports expected to reduce flights.
Booking.com releases 2026 Travel Predictions - According to an annual prediction report produced by Booking.com and shared by Lodging Magazine, travelers are expected to "lean into their passions" next year seeking travel experiences that focus on personal milestones, fostering relationships and getting hands on with nature focused hobbies.
Hospitality industry associations, including American Hotel & Lodging Association (AHLA), urge Congress to end government shutdown - According to an October 22 press release from AHLA, 30 hospitality industry associations joined together to sent a letter to Congress urging legislators to "come to a speedy agreement that reopens the government."
U.S. Travel Association forecasts decline in international travel to the U.S. - According to a forecast released by U.S. Travel Association on October 1, international travel to the United States is expected to fall 6.3% in 2025, the first decline since 2020. U.S. hosted events such as the FIFA World Cup and America 250 celebrations are expected to reverse this trend in 2026. Despite the decline in international travel to the U.S., total U.S. travel spending is projected to grow 1.1% to $1.35 trillion in 2025 - "bouyed by continued growth in domestic leisure travel despite economic concerns".
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



