New Jersey Q4 2024 casino revenue falls to $768.9m
This figure represents a downturn of 1.7% year-on-year.
Key points:
– New Jersey has posted its Q4 & FY 2024 casino revenue figures
– Both revenue and gross operating profits have decreased for Q4 & FY 2024
– Caesars Atlantic City saw a sharp rise in Q4 profits, with Borgata acting as the state’s primary revenue driver
Figures from the New Jersey Office of the Attorney General and Division of Gaming Enforcement highlight that the state generated a casino revenue figure of $768.9m during the fourth quarter of 2024.
Overall, this reported revenue marks a fall of 1.7% when compared to results from Q4 2023. Further, this final quarterly report from 2024 brings the state’s total casino revenue figure for the full year up to $3.31bn, highlighting a downward trend of 0.5% in comparison to the year prior.
Q4 2024
Indeed, the state of New Jersey’s Q4 2024 casino licensees also reported a gross operating profit (GOP) of $132.5m for the final quarter of 2024, a decrease of 10.8% year-on-year. More specifically, Atlantic City’s Casino Hotel licesees generated $128.2m in GOP during the quarter and $757.6m in revenues, down 9.8% and 0.4%, respectively.
Leading the way was Borgata Hotel & Casino, which generated the highest revenue figure of all licensed AC casinos, posting a 0.2% year-on-year revenue decrease of $190m for the quarter. Borgata also posted the state’s highest casino GOP of $42.1m during Q4, this figure, however, represents a fall of 12.3% year-on-year for the property. Caesars’ Atlantic City property saw the most notable upswing in both revenue and profits during Q4 2024, with revenues rising by 5.9% year-on-year to $58.6m, and profits increasing by a sizable 120.2% to $8.6m.
FY 2024
Having posted a 0.5% fall in casino revenue to $3.1bn for the full year, figures from Atlantic City also highlight a 9.2% year-on-year decrease in GOP to a total of $709.1m for the full-year 2024 period. As evidenced, these decreases are slightly less steep than the ones reported as part of the state’s quarterly financials, highlighting a potential drop-off towards the end of the year.
Similarly to results from the fourth quarter, Borgata Hotel & Casino also boasted the highest revenue figure of $782.9m and GOP figure of $208.6m during 2024, representing falls of 0.3% and 7.7%, respectively. Ocean Resort Hotel & Casino had the most positive year with regard to revenue, posting growth of 1.8% year-on-year, while Caesars saw the steepest increase in GOP of 10.7%.
Good to know: New Jersey’s gaming revenue rose by 5.1% during February 2025, with revenue reaching $484.8m for the month
In recent related gambling news, New Jersey became one of a number of states to file cease and desist letters to prediction markets Kalshi and Robinhood last month. The action demands that the organisations immediately cease all unregulated sports betting operations in the state, however, Kalshi has confirmed its intentions to push back against the order.
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