April 11, 2023 2 min read


Mixed Results for Atlantic City’s Casino Industry in Q4 2022

The figures were revealed by the New Jersey Division of Gaming Enforcement and were based on filings from casino licensees

Atlantic City’s casino industry has reported an increase in net revenue of 1% for the fourth quarter of 2022, compared to the same period in the previous year. The gross operating profit, however, showed a decrease of 31.6% for the same quarter. 

Gross Operating Profit of Atlantic City Casino Industry Declines in Q4 2022

The licensees’ reports showed that in the 4th quarter of 2022 net revenue reached $771.9 million, while the gross operating profit reached $119.3 million. For the entire year of 2022, net revenue increased by 9.3% to $3.3 billion in comparison to the same period in 2021. 

In contrast, the casino licensees reported a gross operating profit of $731.3 million, which was a decrease of 4.6% compared to the same period last year. 

Hotel occupancy rates for the industry’s casino hotels were also reported. The occupancy rate for the quarter ending December 31, 2022, was 65.8%, down 0.6% from the previous year. For the twelve months ending December 31, 2022, the occupancy rate was 73.4%, which was an increase of 5.8% from the previous year.

The decrease in occupancy rates may have contributed to the decrease in gross operating profit, but the industry’s overall performance is still strong. The Atlantic City casino industry continues to be a significant contributor to the city’s economy and remains a popular destination for tourists.

Hard Rock and Ocean Lead Atlantic City’s Casino Profit Growth in 2022

In 2022, only two of the nine Atlantic City casinos witnessed an increase in operating profits as compared to the previous year. Hard Rock observed a growth of nearly 20%, earning over $128 million, while Ocean earned $96.2 million, which is up 5.5%.

Bally’s operating loss declined significantly in 2022, with a loss of $1.8 million in comparison to $13.1 million in 2021.

Borgata’s operating profit decreased by 19.4%, earning $140.2 million. Caesars earned $60.4 million, down 2.7%, and Golden Nugget’s profits slightly decreased to $30.6 million. Harrah’s profits decreased by over 10%, earning $89.3 million. Resorts earnings were down by nearly 24%, at $21 million, and Tropicana’s earnings decreased by 7.6%, earning nearly $110 million.

In the category of internet-only companies, Caesars Interactive Entertainment NJ recorded a substantial increase in earnings, raking in $32.7 million, almost double the amount it made a year prior. Meanwhile, Resorts Digital, which serves as the online extension of Resorts Casino, generated $15.4 million in earnings, representing a 2.8% increase.

Looking back to the pre-pandemic year of 2019, only four casinos managed to increase their earnings in 2022: Hard Rock, Ocean, Resorts, and Tropicana. Although it’s worth noting that Harrah’s came very close to matching its 2019 earnings.


Silvia has dabbled in all sorts of writing – from content writing for social media to movie scripts. She has a Bachelor's in Screenwriting and experience in marketing and producing documentary films. With her background as a customer support agent within the gambling industry, she brings valuable insight to the Gambling News writers’ team.

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