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.