Casino operators in New Jersey have reported a decrease in gaming revenue and profits for the fourth quarter of 2024. The New Jersey Division of Gaming Enforcement released data showing that casino licensees experienced a 1.7% drop in net revenue year-on-year, reaching $768.9 million in the final three months of 2024. Gross operating profit also fell sharply, down 10.8% to $132.5 million compared to the same period in 2023.
Across the entire year, net revenue for the state’s casinos was $3.31 billion, representing a 0.5% decline from the previous year. Gross operating profit for the year was reported at $709.1 million, down 9.2% from 2023.
The Division of Gaming Enforcement noted that relevant data concerning internet gaming and sports wagering businesses is detailed in the footnotes of the Quarterly Financial Report. It advised that valid comparisons require the use of this information.
Hotel occupancy rates also saw declines, with the occupancy rate for casino hotels at 65.6% in the fourth quarter, down 0.9 percentage points from the previous year. The overall occupancy rate for 2024 was 72.0%, a decrease of 1.0 percentage points compared to 2023.
