New Jersey Division of Gaming Enforcement Publishes Q3 2024 Casino Revenue Report
The New Jersey Division of Gaming Enforcement (NJDGE), which oversees land-based and online casinos, has announced casino revenues for Q3 2024, revealing revenues of nearly $943.2 million and profits of around $242.9 million. That revenue figure is a 2.9% decline from Q3 2023, while profits also fell by 13.6% year on year.
Revenue Decline Across Most NJ Casinos
The casino revenue numbers from the NJDGE include nine land-based casino properties and two other license holders. Of those 11 reports, only one operator generated positive revenue growth in Q3 2024 year-on-year.
Borgata Hotel Casino & Spa is the largest revenue generator in NJ, covering around 23% of the state-wide total. The casino’s revenues slightly edged up year-on-year, increasing by just $4,000. Borgata operator MGM Resorts needed these positive results after poor results in Q2 2024.
Casino | Q3 2023 | Q3 2024 | Change |
|---|---|---|---|
Bally’s AC | $59,540,000 | $58,283,000 | -2.1% |
Borgata | $218,356,000 | $218,400,000 | +0.02% |
Caesars | $76,400,000 | $75,648,000 | -1.0% |
Golden Nugget | $47,786,000 | $46,787,000 | -2.1% |
Hard Rock | $169,693,000 | $165,940,000 | -2.2% |
Harrah’s | $90,024,000 | $79,839,000 | -11.3% |
Ocean Resort | $149,289,000 | $146,995,000 | -1.5% |
Resorts Casino | $47,732,000 | $46,416,000 | -2.8% |
Tropicana | $90,442,000 | $86,770,000 | -4.1% |
Caesars Interactive Entertainment | $13,961,000 | $11,979,000 | -14.2% |
Resorts Digital | $8,558,000 | $6,106,000 | -28.7% |
Total | $971,781,000 | $943,163,000 | -2.9% |
Every other casino experienced a revenue decline. The operator that oversaw the most significant drop in revenue was Resorts Digital, whose revenues fell by 28.7% year on year. Every other casino posted revenue drops of less than 3%.
Caesars Entertainment Ready to Stem Losses With Horseshoe Online Casino
Caesars Entertainment took more hits to its revenues than most companies. Its land-based property, Harrah’s Resort & Casino Atlantic City, dropped revenues by 11.3%, which amounted to over $10 million less in revenue.
Meanwhile, Caesars Interactive Entertainment posted a drop of over 14%. Caesars Entertainment-operated Tropicana Atlantic City declined by 4.1%, while Caesars Atlantic City Hotel & Casino also fell by a much more manageable 1%.
However, Caesars Entertainment has recently moved to improve its offering and presence in New Jersey, launching Horseshoe Online Casino in The Garden State. While this won’t help its land-based casinos’ revenues, it may boost Caesars Interactive Entertainment to a more positive Q4 to round off 2024.
Profits Take More Significant Drops
As revenues fell in Q3 202, profits also dropped year-on-year. However, the casinos that saw the biggest declines in profits and those that actually increased in profits were different from the revenue numbers.
For example, Caesars Entertainment had much more positive profit numbers, with Caesars Atlantic City Hotel & Casino’s profits growing by over 11% year-on-year. Hard Rock Hotel & Casino Atlantic City also generated 2.4% more profits.
Casino | Q3 2023 | Q3 2024 | Change |
|---|---|---|---|
Bally’s AC | $7,330,000 | $6,533,000 | -10.9% |
Borgata | $73,509,000 | $60,408,000 | -17.8% |
Caesars | $21,118,000 | $23,479,000 | +11.2% |
Golden Nugget | $11,068,000 | $6,225,000 | -43.8% |
Hard Rock | $44,332,000 | $45,395,000 | +2.4% |
Harrah’s | $30,028,000 | $22,582,000 | -24.8% |
Ocean Resort | $43,048,000 | $36,481,000 | -15.3% |
Resorts Casino | $7,250,000 | $4,888,000 | -32.6% |
Tropicana | $36,769,000 | $30,586,000 | -16.8% |
Caesars Interactive Entertainment | $5,172,000 | $4,773,000 | -7.7% |
Resorts Digital | $1,589,000 | $1,512,000 | -4.8% |
Total | $281,213,000 | $242,862,000 | -13.6% |
However, every other casino operator posted declines in profits.
The online operators saw revenues decline by less than 10%, but every land-based casino passed this milestone. The most significant drop was at Golden Nugget Atlantic City Hotel & Casino, where profits fell by over 43% year-on-year.
Meet The Author
Experience
Digital PR ManagerColm Phelan has spent several years working in the iGaming industry and has plenty of experience when it comes to writing, researching and rigorously testing online casinos and sportsbooks. While Colm has invested a lot of his time into the digital marketing world but his other passions include poker and a variety of sports including golf, NFL and football.
Read Full BioRelated News
Test Your Luck
Not Your Spam Filter
Sign up to receive emails and promotions from akfxoqsd.shop
