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The basics:

• Atlantic City casinos generated $3.31B in total net revenue
• Industry contributed $883.2M in taxes and fees, up 11% from 2023
• Casinos reinvested over $1B since 2020, including $204.6M in 2024
• Sector supports 23,000 jobs and drew 18M visitors in 2024

A second annual report highlighting the impact of the Atlantic City casino industry on the Garden State came out May 8.

The Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism at Stockton University produced the “2024 Impact: Atlantic City Casino Industry” in collaboration with the Casino Association of New Jersey.

“The Atlantic City tourism landscape continues to evolve with the addition of new entertainment attractions and diverse business offerings, but the nine casino properties are still the strongest economic driver for the region — providing jobs for local residents, purchasing goods and services statewide, and increasing tax revenue for New Jersey,” said Jane Bokunewicz, faculty director at LIGHT, in the report’s opening message. “Taxes generated by the industry fund important programs for seniors and people with disabilities.”

LIGHT noted that despite recent challenges – such as increased operating costs, growing regional competition, inflationary pressures and reduced visitation created by the cancellation of popular citywide events last year, like the Atlantic City Airshow – that the casinos have continued to reinvest in their properties. Since 2020, investments total more than $1 billion, with $204.6 million spent on capital improvements in 2024.

“The continued reinvestment and revitalization in our great city is more important than ever with the expansion of down state New York casinos on the horizon,” said Bokunewicz.

Key highlights of the report include:

• $3.31 billion in total net revenue for casino operators down 0.5%
  • Including $1.65 billion in net nongaming revenue and $1.66 billion in net gaming revenue
• $709.2 million in gross operating profit down 9.2%
• $883.2 million in total casino taxes and fees up 11%
• $572 million (a record) contributed by the industry to the Casino Revenue Fund, which helps the state’s most vulnerable populations
• $605 million spent by the industry on goods and services from New Jersey vendors
• $538.4 million in gross gaming tax revenue up 15.4%
• 23,000 employees – making the industry one of the largest employers in South Jersey
• 18 million visitors up 1.2%
• $3.5 million in donations by the casinos

“The second annual report highlights the immense economic contributions of the Atlantic City casino industry and illustrates the importance of all stakeholders working together to ensure its continued success,” said Bokunewicz.

CANJ President Mark Giannantonio said the report shows the true impact that the Atlantic City casinos have in the community – across South Jersey.

“In 2024, the casinos offered visitors world-class hospitality and exciting experiences in state-of-the-art facilities, while continuing to deliver vital tax revenue for vulnerable New Jersey residents,” said. Giannantonio. “We are proud of our contributions to the state – and local economy.”

The full report is available here.