All Nine Atlantic City Casinos Remain Profitable, Stable in Third Quarter

Posted on: November 25, 2025, 09:56h. 

Last updated on: November 25, 2025, 10:01h.

Devin O'Connor @CasinoorgDevinO Read More
Expertise: Asia Pacific Gaming, Commercial Gaming, Legislation, Politics.
  • All nine casinos in Atlantic City were profitable in the third quarter of 2025
  • Higher costs cut into the resorts’ bottom lines

Atlantic City’s comeback continues, as state reports show that all nine casinos remained profitable and stable in the three months ending Sept. 30, 2025.

Atlantic City casino profits New Jersey
The northern end of the Atlantic City Boardwalk is pictured in October 2022. While all nine Atlantic City casinos were profitable in the third quarter of 2025, inflation took a bite into their bottom lines. (Image: Shutterstock)

Casino revenue at the nine physical gaming properties down the New Jersey Shore is on pace to hit a post-pandemic high. Through October, gross gaming revenue (GGR) from retail slot machines and live-dealer table games was more than $2.44 billion, a 3.4% improvement, or $79.4 million, from the prior year.

The increased gaming play, paired with strong visitation numbers, has led to stronger, more stable bottom lines at the nine resorts. On Monday, the New Jersey Division of Gaming Enforcement (DGE) revealed that casino gross operating profits for the third quarter totaled $232.9 million. While that marked a 1.5% year-over-year decline, largely due to higher overhead costs, all nine licenses remained in the black.

The DGE says gross operating profits are a “widely accepted measure of profitability in the Atlantic City gaming industry.”

Costs Bite Into Profits

After dropping to a one-year low of just 2.3%, the US Bureau of Labor Statistics reported that inflation rose to 3% as of September. Higher costs weighed heavily on the casinos.

While net revenue from casino, hotel rooms, food and beverage, and entertainment rose 0.7% to $931.5 million during the three months, gross profits slowed 1.5%. James Plousis, chair of the New Jersey Casino Control Commission, said the bottom lines reflected “the pressure casinos continue to face from elevated expenses.”

Six of the nine casinos reported lower profits. Caesars’ profit was 29% lower at $16.6 million, Tropicana was 10% lower at $27.6 million, Bally’s was 10% lower at $5.9 million, Hard Rock was 6% lower at $45.4 million, Harrah’s was 2.5% lower at $22 million, and Resorts was 25% lower at $3.7 million.

Borgata, Ocean, and Golden Nugget managed to weather the economic headwinds. Borgata extended its operational lead, with its profits up 10% from Q3 2024 to $66.2 million. Ocean improved its bottom line by 13% to $41.4 million, and Golden Nugget saw its profits better by 15% to $7.2 million.

Through nine months, all nine Atlantic City casinos were profitable, with five reporting year-over-year profit gains. The overall health of the Atlantic City gaming industry is stable, with net revenue ($2.47 billion, 0.2%) and gross profits ($546.26 billion, -0.1%) flat from a year ago.

Room Revenue Slides 

Atlantic City casinos offered 15,424 hotel rooms at the end of the quarter. During the three months, the rooms were occupied 84.3% of the time on an average nightly rate of $195.40.

The result was mixed compared with Q3 last year. While the room occupancy rate was slightly lower at 84.1%, the casinos demanded a higher rate at $201.08.

For Q3 ’25, room revenue (assuming no rooms were comped) totaled $229.1 million. That was down from $238.3 million in Q3 ’24.