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. Figures released Monday by New Jersey gambling regulators show the nine casinos collectively reported a gross operating profit of $744 million in 2023, down 1.6% from 2022.
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. This Dec. 28, 2023, photo shows the exterior of the Golden Nugget casino in Atlantic City , N.J.
“The same forces that might be tightening visitors’ purse strings — inflation, increased consumer prices — are also forcing operators to dig deeper into their pockets,” she said.
The casinos say that ending smoking will place them at a competitive disadvantage to casinos in neighboring states, costing revenue and jobs.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 .
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Atlantic City Casinos Report Decline in Profitability in 2023Figures 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.
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