Stephan Finkel Director of Legislative Affairs | New Jersey Office of the Attorney General
Stephan Finkel Director of Legislative Affairs | New Jersey Office of the Attorney General
The New Jersey Division of Gaming Enforcement has released the third quarter 2024 gaming revenue results for Atlantic City's casino industry. According to the filings from casino licensees, net revenue for the quarter was reported at $943.2 million, marking a 2.9% decline compared to the same period last year. The gross operating profit also saw a decrease, with figures showing $242.9 million, down by 13.6% from the third quarter of 2023.
Over the first nine months of 2024, casinos in Atlantic City generated net revenue totaling $2.54 billion, reflecting a slight decrease of 0.2% from the same period in 2023. Gross operating profit for this timeframe was reported at $576.6 million, an 8.8% drop compared to last year.
In terms of hotel occupancy within casino hotels, there was a noted decrease as well. For the quarter ending September 30, 2024, occupancy rates stood at 84.1%, which is a reduction of 1.5 percentage points compared to the third quarter of the previous year. Additionally, for the nine-month period ending September 30, occupancy rates were recorded at 74.1%, decreasing by 1.1 percentage points from last year's comparable period.
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