According to the New Jersey Division of Gaming Enforcement, the third quarter of 2024 was difficult for Atlantic City’s nine casinos. At $236.6 million, gross operating profits as a whole decreased 13.8% from the previous year. Additionally, net revenue fell 2.5 percent to $925.1 million. Revenue in the first quarter was also down for Atlantic City casinos.
Borgata reported net revenue of $218.4 million, up $44,000, making it the only casino to avoid a decline. Harrah’s, on the other hand, experienced the worst decline in net revenue, falling 11.3% to $79.8 million. Tropicana came next, earning $86.8 million despite a 4.1% drop. Revenue declines of 2.8% or less were reported by other casinos.
Golden Nugget faced a steep 43.8% decline in gross operating profit, ending at $6.2 million. Resorts Casino and Harrah’s also saw notable profit drops of 32.6% and 24.8%, respectively.
Notable Performers and Trends
Despite the overall downturn, Hard Rock achieved a 2.4% increase in gross operating profit, reaching $45.4 million. Borgata remained the leader in gross operating profit at $60.4 million, though this marked a 17.8% decrease from the previous year.
Resorts Digital also struggled, with net revenue falling 28.7% to $6.1 million and gross operating profit dipping 4.8% to $1.5 million.
Across all properties, total net revenue reached $943.2 million, down 2.9% year-over-year. Hotel occupancy also declined slightly, dropping 1.5% to 84.1%.
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