New Jersey casinos report 5.1% decrease in net revenue for Q1 2025

The New Jersey Division of Gaming Enforcement (DGE) has reported the financial performance of casino resorts located throughout Atlantic City for the first quarter of 2025, as net revenue decreased by 5.1% year-over-year for a total of $730.3m. 

Also, hotel occupancy rate in Atlantic City casino hotels for Q1 2025 was reported to be 62.9%, equating to a decrease of 1.9% year-over-year compared to the figure generated during the first quarter of 2024. Gross operating profit throughout Q1 2025 resulted in a total of $132m, falling by 15.1% from the prior year period. 

Borgata Atlantic City reported the highest revenue of any property in New Jersey, generating nearly $174.2m for a decrease of 2.7% year-over-year. Hard Rock Hotel & Casino was the only property which managed to produce an increase in revenue from the prior year period, rising by 1.2% for a total of $135m. 

Ocean Casino was also able to eclipse the $100m mark in revenue for the first quarter of 2025, accounting for $113m while decreasing 3.2% year-over-year. Harrah’s Atlantic City generated $70.1m of revenue while Tropicana produced an additional $61.1m, representing decreases of 3.6% and 3.2% from the prior year period, respectively. 

Caesars Atlantic City reported a Q1 2025 revenue of $50.1m for a decrease of 15.9% year-over-year, while Bally’s revenue fell 7.7% from the prior year period to $41.7m. Finally, Resorts Atlantic City and Golden Nugget reported revenues of $40.5m and $34.3m for the first quarter of 2025, respectively, as Golden Nugget decreased by 3.4% year-over-year. 

Good to know: The DGE released the state’s gaming revenue figures for April 2025 on May 16, including an overall revenue increase of 5% year-over-year to $536.6m, primarily driven by 25.2% growth from the prior year period for iGaming

In terms of operating profit for Atlantic City properties throughout Q1 2025, Bally’s reported a negative operating profit of $6.6m for the period, decreasing by a significant 169.3% from the prior year period. Borgata and Hard Rock reported operating profits of $48.2m and $27m, respectively, which represents a decrease of 6.8% and an increase of 2.9% year-over-year. 

Harrah’s Atlantic City, Ocean Casino and Tropicana reported Q1 2025 operating profits of $15.6m, $22.5m and $13.4m, respectively, equating to decreases of 7.5% and 6% from the prior year period, but an increase of 7.1% for Tropicana.

Kirk Geller

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