New Jersey Reports Decline in Q1 Gaming Revenue and Hotel Occupancy

The New Jersey Division of Gaming Enforcement (DGE) has published its latest report about the local gaming industry’s performance. In the three months ended March 31, the gaming revenue experienced a slight decline, which reflected a lower hotel occupancy rate.

New Jersey’s Q1 Was Unexciting

In its report, the DGE highlighted Q1 2025 net revenue of $730.3 million for Atlantic City’s casino licensees. This figure represented a decrease of 5.1% over the same quarter last year.

In addition to that, casino licensees reported Q1 2025 gross operating profit of $132 million, down 15.1% from the prior-year period.

The DGE further reported that the hotel occupancy rate in the casino hotels in Q1 stood at 62.9%. This figure responded to a decrease of 1.9% compared to the same quarter in 2024.

Most Casinos Saw Their Revenues Decrease

In terms of individual operators, almost all licensees reported a decline in revenue, reflecting a broader trend. Despite this, the Borgata retained its top spot, reporting $174.2 million in revenue for the period, down 2.7% year-on-year. The gross operating profit, meanwhile, was down 6.8% to $48.2 million.

Other casino licensees that experienced a decline included Bally’s, which reported a net profit of $41.7 million (down 7.7% YOY). The operator’s gross operating loss expanded by a staggering 169.3% to $6.6 million.

Caesars was hit the worst, reporting a 15.9% decline in net revenue to $50.1 million. The company also reported gross operating profit of $3.5 million, down 66.5% YOY.

Golden Nugget, meanwhile, reported net revenue of $34.3 million, down 3.4% YOY, and gross operating profit of $1.8 million, down 23.5% YOY.

Harrah’s net revenue experienced a decline of 3.6% to $70 million, with gross operating profit also experiencing a decline, falling to $15.6 million, down 7.5% YOY.

Ocean Casino saw its net revenue and gross operating profit decrease by 3.2% and 6%, respectively, to $113 million and $22.5 million, respectively.

A Few Properties Fared Better

Not all was grim, however, as three licensees reported somewhat favorable metrics. The Tropicana reported net revenue of $61.1 million, down 3.2% YOY, but the casino’s gross operating profit increased 7.1% to $13.4 million.

Hard Rock’s net revenue remained mostly stable at $135 million, up 1.5% YOY. The operator’s net revenue experienced a slight 2.9% increase to $27 million.

Finally, Resorts Casino reported net revenue of $40.5 million and gross operating profit of $3.6 million. Although both figures correspond to an increase from the Q1 2024 results, a direct comparison could not be made due to the recent closure of its Resorts Digital brand, which affected the broader business.