Bally’s Atlantic City Unprofitable Through First Half of 2025
Posted on: August 23, 2025, 08:26h.
Last updated on: August 23, 2025, 08:26h.
- Bally’s Atlantic City has not been profitable in 2025
- Bally’s is the only casino in AC losing money this year
- Q3, however, has been strong for the New Jersey casino town
The future of Bally’s Atlantic City remains murky after the Boardwalk casino resort revealed it lost money running the place through the first six months of 2025.
On Friday, the New Jersey Division of Gaming Enforcement (DGE) posted second-quarter and half-year net revenue and gross operating profits for the nine casinos in Atlantic City. While all were profitable during the April through June period, most casinos showed their profit margins shrinking year-over-year.
Bally’s profit of just $2.3 million represented a 14.7% drop from Q2 2024, though the period was a substantial improvement on Q1.
For the year, Bally’s remains in the red, with an operating loss of $896,000 for the six months. Bally’s gross operating profit, which the DGE says is a “widely accepted measure of profitability in the Atlantic City gaming industry,” has plummeted 439%.
Gross operating profits are before interest, taxes, depreciation, amortization, affiliate charges, and other miscellaneous items.
Bally’s Struggles
The New Jersey DGE reports additionally show that Bally’s is accommodating far fewer guests and getting far less money per room.
In 2024, Bally’s 1,121 guestrooms were occupied 62% of the time on an average nightly rate of $154. Through six months of 2025, those same guestrooms were occupied just 55% of the time at an average rate of $142.
Bally’s net revenue in 2025 through six months, inclusive of gaming, rooms, food and beverage, totaled $90.6 million. That’s down 7.7% from a year ago. By comparison, market leader Borgata reported net revenue of $385.1 million. Hard Rock was at $284.7 million, and Ocean was at $243.1 million.
With additional competition soon coming by way of downstate New York, Bally’s needs a quick turnaround. It’s a bet few would likely want to make on the aged, tired property.
Positive Elsewhere
While Q2 showed tightening profit lines for most of the casinos down the shore, the outliers being Borgata with a profit increase of 16% and Ocean Casino with a profit surge of 67.9%, the report represents the springtime period before Atlantic City experienced a summer comeback.
Gaming revenue this summer has soared, with brick-and-mortar casinos reporting year-over-year gains in May, June, and July.
Even before the summer surge, eight of the nine properties were profitable, with the eight managing to bridge the Bally’s gap to report a 1% industrywide profit gain on the prior year’s six months. The casinos have gotten creative in limiting overhead and increasing margins, as revenue during the first half was flat.
All operators were profitable, despite continuing pressure from higher costs for the goods and services they purchase,” said James Plousis, chair of the New Jersey Casino Control Commission.
Plousis said the $179.9 million Q2 profit was the second-best second quarter in four years.
“Quarterly results from the spring season, coupled with July’s strong monthly figures released last week, reveal that Atlantic City has been competing well for regional gaming and leisure tourists. The casino hotels have raised the bar for positive visitor experiences, with more than $1.1 billion reinvested over the past four years to elevate the properties with first-class gaming, leisure, dining, and entertainment,” Plousis added.
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