September 2025
In LIGHT of the data.
September was an unusual month for Atlantic City’s casino operators with mixed performance across the various properties. While some saw big gains, others saw losses, and still others held essentially flat in September 2025 compared to September 2024. Overall, the industry's brick-and-mortar performance was just 0.1% ahead of September 2024.
While we might have hoped to see more momentum coming off of a successful summer, internet gaming fell short of setting a new monthly revenue record and sports betting losses may have held the industry back a bit.
Another consideration is emerging competition to online sports wagering in the form of prediction markets. Prediction markets, which were expected to be banned from participating in sports markets, have yet to be banned and, for now, are going all in.
Despite these mixed results and potential future challenges, the industry is still on track to surpass year-end total revenues, continuing a trend of year-over-year gains post-pandemic.
Atlantic City Gaming Win & Total Casino Revenue
Source: N.J. Division of Gaming Enforcement
| Monthly Revenue (Casino Licensees, $ In Thousands |
September 2025 |
% Change from Prior Year | September 2024 | YTD
2025 |
% Change from Prior Year | YTD 2024 |
|---|---|---|---|---|---|---|
| Casino Gaming Win | 230,735 | 0.1% |
230,613 |
2,206,476 | 2.5% | 2,153,088 |
| Internet Gaming Win | 243,122 | 16.8% | 208,117 | 2,124,746 | 22.7% | 1,731,501 |
| Sports Wagering Revenue* | 48,118 | -24.8% | 63,655 | 449,662 | 25.8% | 355,360 |
| Total Gaming Win (includes Internet & Sports Wagering) | 521,975 | 3.9% | 502,975 | 4,780,880 | 12.7% | 4,242,290 |
| Quarterly Revenue (Industry, $ In Millions)** | Q2 2025 | % Change from Prior Year | Q2 2024 | YTD June 30, 2025 | % Change from Prior Year | YTD June 30, 2024 |
|---|---|---|---|---|---|---|
| Casino | $425.80 | 2.9% | $423.66 | $815.79 | -1.9% | $831.40 |
| Rooms | $175.68 | -3.8% | $182.70 | $313.26 | -5.3% | $330.82 |
| Food & Beverage | $139.44 | -3.6% | $144.58 | $262.49 | -4.3% | $274.67 |
| Entertainment & Other | $218.38 | 145.8% | $88.83 | $298.09 | 82.7% | $163.20 |
| Casino Licensees Total Net Revenue | $837.15 | 0.9% | $829.76 | $1,567.49 | -2.0% | 1,599.69 |
| Gross Operating Profit (GOP) | 184.25 | 3.3% | $178.38 | $320.67 | -3.9% | $333.78 |
* Data as reported in New Jersey Division of Gaming Enforcement Monthly Financial Reports for individual licensees for respective months. May not match Monthly Press Releases and Statistical Summaries.
** Data agregated from New Jersey Division of Gaming Enforcement Quarterly Financial Reports for individual properties. May not match totals from Quarterly Press Releases and Statistical Summaries, which represent a 'snapshot' of data at the time of publication and are not retroactively updated.
Atlantic City Hotel Lodging
Source: N.J. Division of Gaming Enforcement
| Casino Hotel Lodging Statistics For the Period Ended June 30, 2025 & 2024 |
Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 |
|---|---|---|---|---|
| Occupancy percentage | 72.6% | 73.3% | 67.8% | 69.1% |
| Average Daily Room Rate (ADR) | $174.31 | $178.55 | $167.30 | $171.83 |
| Revenue Per Available Room (RevPAR)* | $126.46 | $130.88 | $113.43 | $118.73 |
* RevPAR= ADR X Occupancy Percentage
Atlantic City Casino Operator Taxes & Fees
Source: N.J. Division of Gaming Enforcement
Total Paid Taxes & Fees |
223,988,000 | 207,872,000 | 7.8% | |||
|---|---|---|---|---|---|---|
Taxes & Fees |
Q2 2025 | Q2 2024 | % | |||
|
Casino Gaming Gross Revenue Tax |
$45,474,125 | 45,303,000 | 0.4% | |||
|
Internet Gaming Gross Revenue Tax |
106,943,142 | 85,137,000 | 25.6% | |||
|
Sports Wagering - Retail Gross Revenue Tax (includes racetracks) |
763,898 | 460,000 | 66.1% | |||
|
Sports Wagering - Internet Gross Revenue Tax (includes racetracks) |
36,085,737 | 31,483,000 | 14.6% | |||
| Investment Alternative Tax/CRDA Obligations | 27,014,854 | 22,940,000 | 17.8% | |||
| 1.25% Additional Tax | 2,039,459 | 1,195,000 | 70.7% | |||
| 1.25% EDT | 1,526,451 | 1,899,000 | -19.6% | |||
| Luxury Tax | n/a | 12,497,000 | n/a | |||
| Tourism Promotion Fee | n/a | 2,264,000 | n/a | |||
| Hotel Room Fee | 3,021,093 | 3,070,000 | -1.6% | |||
| Hotel Room Surcharge | 2,014,062 | 2,047,000 | -1.6% | |||
| Parking Fees | 4,140,510 | 4,694,000 | -11.8% | |||
Atlantic City Casino Operator Spending
Source: Casino Association of New Jersey - Member Reported
| Total | $151,257,000 | $148,336,000 | 1.97% | ||
|---|---|---|---|---|---|
Purchase of Goods and Services From New Jersey Vendors(By County) |
Q1 2025 | Q1 2024 | % | ||
| Atlantic | $83,617,000 | $94,291,000 |
-11.32% |
||
| Bergen | $2,307,000 | $2,548,000 | -8.28% | ||
| Burlington | $2,965,000 | $3,343,000 | -11.31% | ||
| Camden | $4,212,000 | $5,451,000 | -22.73% | ||
| Cape May | $2,691,000 | $2,280,000 | 17.99% | ||
| Cumberland | $4,852,000 | $5,795,000 | -16.27% | ||
| Essex | $11,560,000 | 10,862,000 | 6.43% | ||
| Gloucester | 2,262,000 | 2,217,000 | 2.07% | ||
| Hudson | $435,000 | $541,000 | -19.58% | ||
| Hunterdon | $4,000 | $12,000 | -65.02% | ||
| Mercer | $4,488,000 | $3,764,000 | 35.83% | ||
| Middlesex | $4,484,000 | $3,764,000 | 19.13% | ||
| Monmouth | $3,471,000 | $2,678,000 | 29.61% | ||
| Morris | $1,931,000 | $892,000 | 116.54% | ||
| Ocean | $985,000 | $1,698,000 | -41.96% | ||
| Passaic | $1,788,000 | $1,083,000 | 65.12% | ||
| Salem | $87,000 | $81,000 | 8.40% | ||
| Somerset | $2,194,000 | $2,220,000 | -1.16% | ||
| Sussex | $3,000 | $4,000 | -19.91% | ||
| Union | $16,917,000 | $5,271,000 | 220.96% | ||
| Warren | $4,000 | $5,000 | -17.43% | ||
Other Spending |
Q1 2025 | Q1 2024 | % | |||
|---|---|---|---|---|---|---|
| Capital Expenditures | $37,731,000 | $42,769,000 | -11.78% | |||
| PILOT Contributions (Includes PILOT & additional payments under PILOT legislation) | $29,189,000 | $28,616,000 | 2.00% | |||
| CRDA Special Improvement District | $298,000 | $323,000 | -7.76% | |||
| Municipal/Atlantic City Fees- Water | $1,451,000 | $908,00 | 59.75% | |||
| Municipal/Atlantic City Fees- Sewer | $2,620,000 | $2,584,000 | 1.43% | |||
|
Municipal/Atlantic City Fees- Other (permits, boardwalk seating, mercantile etc.) |
$437,000 | $494,000 | -11.64% | |||
| Charitable Contributions | $161,691 | $273,239 | -40.82% | |||
Total Spending |
$223,145,000 | $224,305,000 | -0.52% |
|---|
Atlantic City Statistical Transportation Data
Source: South Jersey Transportation Authority
| Travel Mode | August 2025 |
August 2024 |
Change from Prior Year |
YTD 2025 |
YTD 2024 |
Change |
|---|---|---|---|---|---|---|
| AC Expressway | ||||||
| Total Toll-Paying Traffic Pleasantville Toll Plaza |
1,914,567 | 1,882,951 | 1.7% | 12,037,326 | 12,370,564 | -2.7% |
| AC Airport | ||||||
| Scheduled Service Passengers | 88,612 | 94,737 | -6.5% | 517,850 | 658,728 | -21.4% |
| Charter Passengers | 14,165 | 15,821 | -10.5% | 74,879 | 85,017 | -11.9% |
| Total Air Passengers | 102,777 | 110,558 | -7.0% | 592,729 | 743,745 | -20.3% |
Atlantic City Meetings and Conventions Data
Source: Vist Atlantic City
| September '25 | September '24 | % Change from Prior Year |
TOTAL 2025 YTD |
TOTAL 2024 YTD |
% Change from Prior Year |
|
|---|---|---|---|---|---|---|
| Conventions/Tradeshows/Meetings1 | ||||||
| # of Shows | 5 | 5 | 0% | 53 | 44 | 20% |
| # of Room Nights | 1,904 | 4,983 | -62% | 87,638 | 70,917 | 24% |
| # of Attendees3 | 6,387 | 8,699 | -27% | 342,848 | 317,146 | 8% |
| Delegate Spending | $2,476,591 | $4,955,817 | -50% | $92,777,541 | $73,754,427 | 26% |
| Boardwalk Hall Bookings | ||||||
| # of Shows | 3 | 1 | 200% | 27 | 27 | 0% |
| # of Attendees | 12,350 | 220 | 5514% | 136,470 | 123,354 | 11% |
| Hotel Bookings | ||||||
| # of Shows | 19 | 14 | 36% | 130 | 117 | 11% |
| # of Room Nights | 13,446 | 11,332 | 19% | 110,142 | 90,185 | 22% |
| # of Attendees | 16,730 | 17,662 | -5% | 185,055 | 113,960 | 62% |
| Delegate Spending | $9,113,013 | $7,426,923 | 23% | $81,266,082 | $58,774,002 | 38% |
| Monthly Totals | ||||||
| # Convs_Trade_Mtgs / Boardwalk Hall / Hotel | 27 | 20 | 35% | 210 | 188 | 12% |
| # of Room Nights | 15,350 | 16,315 | -6% | 197,780 | 161,102 | 23% |
| # of Attendees | 35,467 | 26,581 | 33% | 664,373 | 554,460 | 20% |
| Delegate Spending | $11,589,604 | $12,382,740 | -6% | $174,043,623 | $132,528,429 | 31% |
1Includes Visit Atlantic City events booked at Boardwalk Hall
3Variance in attendance numbers due to revisions in calculating and tracking methods
Atlantic City Information
1,000 vacant properties in Atlantic City, community development advocates urge change - As reported by The Press of Atlantic City, at a September 17 City Council meeting, Elizabeth Terenik, executive director of the Chelsea Economic Development Corp., urged the city to take action on vacant and blighted buildings. Terenik estimated Atlantic City has more than 1,000 vacant properties, including more than 100 in the Chelsea neighborhood alone.
Department of Community Affairs (DCA) votes to continue state supervision of Atlantic City through November 2026 - As reported by The Press of Atlantic City and Casino.org, the New Jersey Local Finance Board, a division of the Department of Community Affairs (DCA), voted on Sept. 10, to continue the Local Government Supervision Act, the act placing Atlantic City under state supervision, through at least November 2026.
Plans for outdoor gym and bar alongside Showboat Resort Atlantic City canceled - As reported by The Press of Atlantic City, a proposed outdoor gym and bar next to the Showboat Resort Atlantic City will not be happening. Representatives of Tower Investments, owners of the property, say to expect something “exciting” for Summer 2026.
Remaining hotel tower and garage of former Plaza Casino Hotel back on the market - As reported by Casino.org, IEP AC Plaza, LLC, a subsidiary of Icahn Enterprises, has listed the closed hotel and parking garage for sale. The 10.7-acre property was last listed in 2023. The original 39-story Trump Plaza structure was imploded in February 2021. The casino has been shuttered since September 2014.
New Jersey Gaming News
Atlantic City casino workers participate in annual “Out of the Darkness Community Walk” - As reported by Casino.org, about 750 casino employees took part in a 2-mile walk to raise money for suicide prevention. The Annual walk has raised more than $1 million since its inception in 2020
Borgata Atlantic City in partnership with entertainment and hospitality company, Big Night, plans new live music and nightlife venue - As reported by PlayNJ, Borgata will partner with Big Night to bring a new 18,000-square-foot venue to the resort. The space, formerly occupied by Premier Nightclub, is expected to open in summer 2026.
New Jersey gaming regulators propose new responsible play rules - As reported by Play NJ, the Division of Gaming Enforcement is "proposing a new set of rules that would standardize how online casinos and sportsbooks handle players at risk of problem gambling." The plan, which outlines 12 “responsible gaming triggers,” introduces mandatory guidelines for detecting and intervening in cases of potential problem gambling.
National Gaming News
After contract dispute, Council on Compulsive Gambling of New Jersey (CCNG) and National Council on Problem Gambling (NCPG) will no longer share operation of 1-800-GAMBLER helpline - As reported by Play NJ, in 2022 CCNJ and NCPG agreed to share the operation of the 1-800-GAMBLER helpline, expanding its use nationwide. The renewal of the joint operation contract, which came up in May 2025, triggered a dispute between the groups who "had different visions for the future of the national gambling helpline." On Sept. 22, the NJ Superior Court ruled that CCNJ would regain full/sole control of the national gambling helpline. NCPG has pledged to continue their legal fight. Additional reporting from Play USA.
DraftKings partners with NBC Universal in "extensive advertising deal" - According to Legal Sports Report - DraftKings has announced a partnership with NBCUniversal which will include “exclusive integrations and digital sponsorships” across top sports events on NBC platforms. The parnership focuses on sports betting advertising but also gives Draftkings the ability to purchase "digital sponsorships across many other gaming categories including online casino, daily fantasy sports, online lottery products and online horse betting."
FanDuel to be integrated into Prime Video's NBA Broadcasts -According to Legal Sports Report, Prime Video has announced that patrons will be able to link their FanDuel accounts directly with their Prime profiles. This linking will allow active wagers to appear on-screen during NBA broadcasts. Information will "update dynamically throughout the broadcast, showing progress on parlays, props, and straight bets."
Four applicants remain in race for three coveted downstate New York casino licenses - According to the New York State Gaming Facility Location Board webpage, as of Oct. 8, four applicants remained in contention for full gaming licenses in the state. An additional four applications did not receive the support from their respective Community Advisory Committees (CACs) needed to advance to the final vote slated for December 2025. As reported by The New York Times, Empire City Casino by MGM Resorts in Yonkers and Resorts World at the Aqueduct Racetrack in Queens, received unanimous support from their CACs and are considered the front-runners for full casino licenses. The remaining applicants are Bally's Bronx (Ferry Point, The Bronx) and Metropolitan Park (Willets Point, Queens). As reported by The Press of Atlantic City, three of the four applications still in contention have connections to Atlantic City. Further reporting from NBC New York and The Press of Atlantic City, 2.
Gaming leaders gather for Global Gaming Expo (G2E) 2025 - The American Gaming Association hosted the annual Global Gaming Expo (G2E) on Oct. 6 - 9, 2025. Local news coverage of the expo from the Las Vegas Sun and Las Vegas Review Journal.
Hard Rock Bet strikes deal with Genius Sports for official data and betting services - According to Legal Sports Report, Hard Rock Bet has stuck a deal with the NFL's exclusive distributer, Genius Sports, to provide official data and betting services for their sports betting app.The company supplies similar services to DraftKings, FanDuel and bet365, which allow them (and now Hard Rock Bet) to offer interactive betting and streaming features. Genius Sports has secured the rights to distribute the NFL’s official play-by-play data throught 2030.
Polymarket US nears launch, Kalshi tops volume records - According to Legal Sports Report, Polymarket US is poised to become "the second federally regulated operator to offer sports predictions to all 50 states." Kalshi, the first to offer sports predictions in all 50 states, contines to set new volume records. Note volume is not directly comparible to handle for sportsbooks.
Progressive Policy Institute (PPI) refutes former study, claims online sports betting is not causing bankruptcy and decreased credit scores - As reported by Casino.org, researchers for PPI found that "regulated online sports betting (OSB) isn’t driving increased bankruptcy filings and declining credit scores in the states that permit that form of wagering." These findings refute those of a 2024 study by the University of California Los Angeles (UCLA) and the University of Southern California (USC). UCLA/USC researchers found "that credit scores declined slightly in OSB states and those dips were attributable to rising 'bankruptcy rates, debt collections, debt consolidation loans, and auto loan delinquencies.'” PPI suggests the period of the UCLA/USC study included significant economic shocks and a surge in "sports betting intensity" that has eased since that time.
U.S. Senators push to eliminate the federal excise tax on sports betting handle - According to Legal Sports Report, membersh of the United States Senate have introduced the Withdrawing Arduous Gaming Excise Rates Act. The act would exempt legal sportsbooks from paying the 0.25% handle tax on each wager taken, along with the $50 annual per-employee fee.
Hospitality & Tourism News
American Hotel & Lodging Association (AHLA) reports half of U.S. adults plan to travel before year-end - According to a recent survey conducted by Morning Consult on behalf of the American Hotel & Lodging Association (AHLA), half of U.S. adults are planning to travel overnight for leisure purposes before the end of 2025. Approximately a third (31%) expect to travel overnight for business before the end of the year. Although this news is positive, it is still down slightly in comparison to Fall/Winter 2024. Survey respondents cited the economy (45%) as a major reason they were scaling back their travel plans.
AHLA and National Restaurant Association (NRA) issue statement of support, call for quick adoption of American Franchise Act (AFA) - In Sept. 10 statements, the AHLA and NRA expressed their support for the AFA (HR5267). The bill introduced to the U.S. House of Representatives aims to "preserve the franchise business model." With 36,000 franchised hotels and nearly a quarter of a million franchised restaurants in the U.S., the legislation is important to the hotel and lodging, and restaurant industries. The AHLA says "the AFA will protect the hotel business model and ultimately provide certainty regarding the nature of the employment relationship."
AHLA survey finds hotel operators are scaling back development plans - According to a Sept. 16 statement, research conducted by the AHLA has found that only 8% of property owners and operators reported moving forward with new investments, including property development and renovation. Of the responding operators, 8% said they would be canceling new investments entirely, while 32% reported delaying projects and 24% said they were scaling back. Rising costs and uneven demand changes were cited as the primary reason for changing investment plans. Nearly half (49%) of respondents also reported that they were understaffed.
Anthony Faranca steps down from position as general manager of the Showboat Resort Atlantic City - As reported by The Press of Atlantic City, casino-hospitality industry veteran Anthony Faranca has resigned from his position with Showboat to take on an expanded role with Think Hospitality, Showboat's management partner.
H2B Workforce Coalition releases analysis of impacts of H-2B Visa Program - According to a report released by the H2B Workforce Coalition, the H-2B program, which allows the hiring of seasonal foreign guest workers, has not had a detrimental effect on jobs and the salaries of U.S. workers. On the contrary, it has increased wages and supported the labor force. Areas that were able to hire more H-2B workers were found to have higher rates of employment growth and wage growth among U.S. workers. Hotel and motel workers represent about 8% of all H-2B workers. Further reporting from AHLA.
World Travel & Tourism Council (WTTC) says real threat to tourism industry growth is a workforce shortfall - As reported by Travel Weekly, leaders at this year's World Travel & Tourism Council Global Summit, said the industry is thriving but a shortage of workers may soon threaten growth. A WTTC report predicts that "10 years from now, global demand for workers in travel and tourism will outpace supply by more than 43 million people, or 16% below required levels."
LIGHT Snapshots is a publication of the Lloyd D. Levenson Institute of Gaming, Hospitality & Tourism, Stockton University School of Business
Jane Bokunewicz, Ph. D., Faculty Director and Professor of Hospitality
