Atlantic City's casino industry faced significant challenges in October 2024, with in-person gross gaming revenue (GGR) dropping 8.5% to $208.7 million, marking the largest year-over-year decline in 2024.

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

Through the first 10 months of 2024, brick-and-mortar revenue reached $2.36 billion, down 1.6% from 2023. Casino profits through June 2024 decreased by 5% to $333.7 million, despite overall revenue increasing 1.5% to $1.6 billion.

Online gaming continued its strong performance, setting a new record with $213.6 million in revenue, a 28.1% increase from October 2023. Sports betting revenue declined 16% to $77.4 million, with total handle dropping 13.3% to $1.13 billion.

Total gaming revenue, including online gaming and sports betting, showed a modest 2.6% increase to $499.8 million. However, casino operators note that much of their online gaming and sports betting revenue is shared with third-party partners such as DraftKings and FanDuel.

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