Mercer Times

ATLANTIC CITY — The New Jersey Division of Gaming Enforcement released the total gaming revenue results for the 4th quarter of 2023, showcasing both positive and negative trends in the industry.

According to the Division of Gaming Enforcement, the casino licensees reported a 1.3% increase in Net Revenue, amounting to $781.9 million for the 4th quarter of 2023 compared to the same period last year. However, Gross Operating Profit for the same quarter experienced a 3.6% decrease, totaling $148.5 million.

For the entire calendar year of 2023, the Net Revenue reached $3.33 billion, marking an increase of 0.8% from the previous year. Conversely, the Gross Operating Profit for the casino licensees for the full year of 2023 was $780.7 million, indicating a 4.1% decrease compared to the same period last year.

In terms of hotel occupancy, the industry's casino hotels saw a 0.7% increase in the occupancy rate for the quarter ending on December 31, 2023, reaching 66.5%. However, the occupancy rate for the twelve months ending in December 2023 slightly decreased to 73.0%, down by 0.4% from the previous year.