Atlantic City Casino Profits Shrink in 2025, Bally’s Posts Operating Loss
Posted on: April 9, 2026, 09:28h.
Last updated on: April 9, 2026, 09:34h.
- Atlantic City casino profits were down in 2025
- Bally’s reported a gross operating loss, causing further concern for the future of the Boardwalk resort
- Borgata maintained its dominance in the Atlantic City casino market
The profitability of the Atlantic City casino industry is shrinking, as inflationary and discretionary consumer spending pressures have made operating a resort property down the New Jersey shore increasingly difficult.
The New Jersey Division of Gaming Enforcement reports that net revenue for the nine resorts totaled $3.24 billion in 2025, a 0.6% gain on the prior year. Net revenue includes casino, room, food and beverage, entertainment, and other resort property revenue.
Though the casinos managed to collect slightly more spending, their gross operating profits declined 1.4% to $665.42 million. Gross operating profit, the DGE explains, reflects earnings before interest, taxes, depreciation, amortization, affiliate charges, and other miscellaneous items. “It is a widely accepted measure of profitability in the Atlantic City gaming industry,” the state regulator says.
The final quarter was a gloomy end to 2025, as casino profits dropped 7.1% despite a 2% net revenue improvement.
Atlantic City Squeeze
The 2025 profit report for Atlantic City highlights the concerns about the New Jersey casino town. With forthcoming pressures from downstate New York, where three casinos are to open in the coming years, Atlantic City could look vastly different in the not-so-distant future.
The US Bureau of Economic Analysis reported today that inflation-adjusted consumer spending was flat in February. The US war with Iran is expected to only increase inflation in the coming months, further pressuring the consumer spending index.
Atlantic City casinos are already feeling the economic squeeze, as four of the nine casinos saw their 2025 profits shrink. Caesars’ operating result was down 40% to $34.1 million, Tropicana’s profit declined 25% to $61.8 million, and Harrah’s bottom line was 12% lower at $56.5 million.
Bally’s was the biggest loser, with the casino seeing its operating profit crash 210% to a net operating loss of $2.8 million. Despite a $100 million refresh completed in 2024, the Boardwalk property remains a losing hand for Bally’s Corporation. If an Atlantic City casino is to close, Bally’s would be the front-runner, as its parent company is behind the $4 billion Bally’s Bronx development in Ferry Point Park.
Borgata remained by far the most profitable casino in Atlantic City. The MGM Resorts property generated a gross operating profit of $237.4 million, a 14% year-over-year gain.
Golden Nugget, largely because of its online gaming business, was the biggest year-over-year winner, with the casino seeing its bottom line surge 57% to $28.3 million.
Room Occupancy Results
Atlantic City’s 15,424 casino hotel rooms were occupied 71.2% of the available nights in 2025, down slightly from 72% in 2024. The average nightly rate decreased from $178 in 2024 to $175.
In pre-pandemic 2019, Atlantic City’s casino hotels reported an occupancy rate of almost 79%, though rooms were far cheaper at $142.
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