New Jersey’s 2025 Casino Results Show Slight Decrease in Revenue

The New Jersey Division of Gaming Enforcement (DGE) has published its casino revenue report for Q4 2025, highlighting a slight increase in revenue. With all quarterly results now available, the regulatory body determined that the casino revenue for the year was mostly in line with the results reported in 2024.

The 2025 Profits Declined Slightly

In its official report, the New Jersey DGE said that the Q4 2025 net revenue generated by the Atlantic City casino stood at $784.6 million. This figure is equivalent to a 2% increase over the same quarter of the prior year.

However, the Q4 2025 gross operating profit generated by the casinos showed a 5.8% decrease compared to Q4 2024. For reference, Atlantic City’s casinos reached a gross operating profit of $124.7 million in the final quarter of 2025.

The full-year results, meanwhile, show that New Jersey’s casino industry reported net revenue of $3.29 billion for 2025. This figure is mostly in line with FY 2024, representing only a slight decrease of 0.5% year-on-year.

However, the gross operating profit recorded by Atlantic City’s casinos in 2025 was $681.6 million, which marked a decline of 3.9% from the prior year.

In its official report, the DGE also commented on the Atlantic City casino hotel occupancy in Q4 2025 and the full year. The Q4 metrics show an occupancy of 64.9%, which is equivalent to a decrease of 0.7%.

The full-year results, meanwhile, show a FY 2025 occupancy rate of 71.2%, down 0.8% year-on-year.

There Were Both Winners and Losers

Taking a look at how Atlantic City’s casinos fared, the DGE highlighted Bally’s as the company that experienced the most significant gross operating loss. The company’s Q4 results show an operating loss of $2.8 million versus a profit of $2.5 million – a decrease of 209.6%.

Tropicana’s gross operating revenue, on the other hand, plummeted 25% to $61.8 million versus $82.4 million in the prior year. Caesars also experienced a significant decline, with its gross operating revenue decreasing 40.3% to $31 million. For comparison, the company reported $57.3 million in operating revenue for 2024.

Harrah’s and Hard Rock experienced decreases of 12% and 8.6%, respectively, ending up with gross operating profits of $56.5 million and $123.8 million, respectively.

The 2025 winners were Borgata, Golden Nugget, and Ocean Casino, whose gross operating profits increased by 13.8%, 56.9%, and 10.6%, respectively. The three casinos’ gross operating revenues for FY 2025 were $237.4 million, $28.3 million, and $112 million, respectively.