Atlantic City casinos faced significant challenges in October, with in-person gross gaming revenue (GGR) dropping 8.5% despite favorable weather conditions. The decline marks the largest year-over-year decrease in 2024 for retail casino operations.

Only three casinos—Borgata ($53.4M), Hard Rock ($40.8M), and Ocean ($32.9M)—outperformed their pre-pandemic October 2019 numbers, though all three saw year-over-year declines. Caesars and Tropicana were the only properties showing improvement from 2023, with gains of 4.1% and 7.4% respectively.

Total brick-and-mortar revenue reached $208.7 million, down $19.4 million from October 2023. Year-to-date figures through October show casino revenue at $2.36 billion, representing a 1.6% decrease from 2023.

While retail gaming struggled, online gambling set new records:

• iGaming revenue hit $213.6 million, up 28.1% year-over-year
• Sports betting generated $77.4 million, despite a 16% decline
• Total gaming revenue, including online and sports betting, increased 2.6% to $499.8 million

Casino profits for the first half of 2024 decreased nearly 5% to $333.7 million, even as total industry revenue grew 1.5% to $1.6 billion. The disparity reflects the significant revenue sharing with third-party online gaming partners, affecting casinos' bottom lines despite overall market growth.

James Plousis, New Jersey Casino Control Commission chair, noted that despite challenges, October 2024 represented the second-best October performance since 2013, excluding 2023's results.

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