Atlantic City, N.J. — The Lloyd D. Levenson Institute of Gaming, Hospitality & Tourism (LIGHT) at Stockton University released its second annual report today in collaboration with the Casino Association of New Jersey (CANJ) called 2024 Impact: Atlantic City Casino Industry.

According to the report, the Atlantic City casino industry continues to drive South Jersey’s economy, serving as one of the largest employers in the region and a source of vital tax revenue that benefits New Jersey’s most vulnerable residents. The industry is essential to the state’s social safety net, providing a record over a half billion dollars or $572 million to the Casino Revenue Fund in Fiscal Year 2024.

“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, LIGHT at Stockton University. “Taxes generated by the Casino Revenue Fund support important programs for seniors and people with disabilities. 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 their continued success.”

Despite recent challenges, such as increased operating costs, inflationary pressures and reduced visits, the casinos continued to invest in their properties to help ensure that Atlantic City remains relevant in the face of increasing competition from neighboring states. Since 2020, the industry has spent more than $1 billion on revitalizing its properties. These efforts are essential as they work to retain and attract customers to Atlantic City.

“This report highlights the true impact Atlantic City casinos have in the community and across southern New Jersey,” said Mark Giannantonio, president, Casino Association of New Jersey (CANJ). Giannantonio is also a 1987 Stockton alum and the LIGHT Advisory Board chair. “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. We are proud of our contributions to the state and local economy.”

Strong revenue gains in internet gaming resulted in an eighth consecutive year-over-year overall annual gross gaming revenue growth, except for 2020 due to the COVID-19 pandemic. However, traditional gaming revenue streams have remained essentially flat. The industry’s year-end Gross Operating Profit (GOP) was down nearly 10% in 2024 ($709.2 million) compared to 2023 ($780.7 million). Despite dynamic economic forces and the lingering effects of COVID-19’s market disruptions, Atlantic City casinos continue to contribute to the economic vitality of the community and the entire State of New Jersey through tax contributions, employment, the purchase of goods and services from local vendors and contributions to community organizations.

Highlights of the report include:

• In 2024, Atlantic City’s casino operators realized $3.31 billion in total net revenue, which decreased from 2023 ($3.33 billion) by 0.5%.
• This includes $1.65 billion in net nongaming revenue and $1.66 billion in net gaming revenue.
• Gross operating profit (GOP) for 2024 was $709.2 million, falling 9.2% behind the 2023 GOP, $780.67 million.
• Operators contributed $883.2 million in total casino taxes and fees for the calendar year, an 11% increase over 2023 ($796.0 million).
• The industry contributed a record $572 million to the Casino Revenue Fund in fiscal year 2024, helping the state’s most vulnerable populations with contributions including:
  • $541 million toward housing for people with developmental disabilities
  • $17 million for community-based programs for seniors
  • $5 million for pharmaceutical assistance, and
  • $4 million for personal assistance.
• The industry spent $605 million on goods and services from New Jersey vendors, supporting businesses from across the state.
• 3% was spent in Atlantic County, followed by Essex, Union, Cumberland and Camden counties.
• The industry’s spending on goods and services created a ripple effect for the region, with vendors hiring staff and purchasing resources to fulfill industry contracts.
• Atlantic City’s gaming operators generated $538.43 million in gross gaming tax revenue, a 15.4% increase from 2023 ($466.63 million).
• Operators spent $204.6 million on capital improvements, reinvesting in casino resort infrastructure and expanding on amenities.
• The industry is one of the largest employers in southern New Jersey with 23,000 employees.
  • 19,000 employees are Atlantic County residents.
  • 5,000 employees are Atlantic City residents.
  • Atlantic City welcomed approximately 18 million visitors in 2024, a 1.2% increase over 2023.
• The Atlantic City casinos engaged with the local community and donated nearly $3.5 million in giving:
  • $1.44 million in grants and sponsorships
  • More than $1 million in charitable giving
  • $416,000 in in-kind giving
  • Logging 7,000 volunteer hours.

Click here to view the full report.

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About Levenson Institute of Gaming, Hospitality and Tourism (LIGHT) at Stockton University

The Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism (LIGHT) at Stockton University provides a forum for public policy discussions regarding the gaming, hospitality and tourism industries in New Jersey. The Levenson Institute engages Stockton’s faculty, students and others in research, conferences and report writing to support sound decision making among policy makers and leaders in the region’s three largest industries. Along with other Stockton University centers, institutes and programs, LIGHT is a key part of Stockton’s commitment to playing a central role in issues that are vital to the economic and social wellbeing of our community and region.

About Casino Association of New Jersey

The Casino Association of New Jersey (CANJ) is a trade organization that provides a collective voice for the Atlantic City casino industry by facilitating the exchange of information and ideas between our industry, small businesses, Atlantic City stakeholders and the general public. The CANJ consistently advocates for legislation and initiatives that support the ongoing revitalization of Atlantic City into a world-class destination resort. A thriving casino industry drives economic growth, job creation, increased tax revenue for state and local budgets, and prosperity for city residents, hardworking families and businesses which rely on the Atlantic City casinos for their livelihood. Our goals are simple: protect and grow the tens of thousands of jobs the casino industry supports across New Jersey and continue Atlantic City’s transformation into a world-class destination resort. For additional information, please visit www.casinosnj.org.