Atlantic City casino industry continues to drive South Jersey’s economy. It serves as one of the largest employers in the region and is a vital source of tax revenue. In fact, the industry is essential to the state’s social safety net, providing over a half billion dollars or $572 million to the Casino Revenue Fund in Fiscal Year 2024, that’s according to the recently released “2024 Impact: Atlantic City Casino Industry” report from The Lloyd D. Levenson Institute of Gaming, Hospitality & Tourism (LIGHT) at Stockton University in collaboration with the Casino Association of New Jersey (CANJ)
The newly published findings highlight the industry’s statewide impact, is a vital community partner, supporting 23,000 jobs and donating nearly $3.5 million in charitable giving and logging more than 7,000 volunteer hours.
“The Atlantic City tourism landscape continues to evolve with the addition of new entertainment attractions and diverse business offerings, but the nine casino properties are still the strongest economic driver for the region – providing jobs for local residents, purchasing goods and services statewide, and increasing tax revenue for New Jersey,” Jane Bokunewicz, faculty director, LIGHT at Stockton University, said. “Taxes generated by the Casino Revenue Fund support important programs for seniors and people with disabilities. The second annual report highlights the immense economic contributions of the Atlantic City casino industry and illustrates the importance of all stakeholders working together to ensure their continued success.”
“This report highlights the true impact Atlantic City casinos have in the community and across southern New Jersey,” Mark Giannantonio, president, Casino Association of CANJ. “In 2024, the casinos offered visitors world-class hospitality and exciting experiences in state-of-the-art facilities, while continuing to deliver vital tax revenue for vulnerable New Jersey residents. We are proud of our contributions to the state and local economy.”
Strong revenue gains in internet gaming resulted in an eighth consecutive year-over-year overall annual gross gaming revenue growth, except for 2020 due to the COVID-19 pandemic.
Traditional gaming revenue streams have remained essentially flat.
The industry’s year-end Gross Operating Profit (GOP) was down nearly 10% in 2024 ($709.2 million) compared to 2023 ($780.7 million).
Highlights of the report include:
- In 2024, Atlantic City’s casino operators realized $3.31 billion in total net revenue, which decreased from 2023 ($3.33 billion) by 0.5%.
- Gross operating profit (GOP) for 2024 was $709.2 million, falling 9.2% behind the 2023 GOP, $780.67 million.
- Operators contributed $883.2 million in total casino taxes and fees for the calendar year, an 11% increase over 2023 ($796.0 million).
- The industry contributed a record $572 million to the Casino Revenue Fund in fiscal year 2024, helping the state’s most vulnerable populations with contributions including:
$541 million toward housing for people with developmental disabilities,
$17 million for community-based programs for seniors,
$5 million for pharmaceutical assistance, and
$4 million for personal assistance. - The industry spent $605 million on goods and services from New Jersey vendors, supporting businesses from across the state.
62.3% was spent in Atlantic County, followed by Essex, Union, Cumberland and Camden counties. - The industry’s spending on goods and services created a ripple effect for the region, with vendors hiring staff and purchasing resources to fulfill industry contracts.
- Atlantic City’s gaming operators generated $538.43 million in gross gaming tax revenue, a 15.4% increase from 2023 ($466.63 million).
- Operators spent $204.6 million on capital improvements, reinvesting in casino resort infrastructure and expanding on amenities.For the full report click here.
