December 2025 Snapshots
In LIGHT of the data.
Annual brick-and-mortar gaming revenue has remained essentially flat since 2022, while
internet gaming continues to grow exponentially 鈥 eclipsing brick-and-mortar gaming
for the first time in 2025. This contrast between industry segments is indicative
of a maturing brick-and-mortar market and an internet gaming market that is still
growing.
This contrast is especially clear in a month like December 2025 when winter weather
events and New Year鈥檚 Eve falling mid-week appear to have had an impact in casino
operator鈥檚 brick-and-mortar returns for the month (down 6.7% compared to December
2024). Internet gaming revenues, however, continued to grow unhindered. Without diminishing
the returns from traditional gaming, internet gaming and sports wagering continue
to grow, representing an ever-increasing share of total gross gaming revenue for casino
operators. In 2021, these new gaming segments represented 40% of total revenues for
the year, four years later they now represent 55%.
News from Atlantic City鈥檚 casino operators continues to be bittersweet as record year-end
total gross gaming and near-term record annual brick-and-mortar gaming revenues mask
other market challenges. Operators continue to struggle with increased labor costs
and increases in the cost of goods and services. These and other factors will likely
draw net revenue and gross operating profits down. We will not get a full picture
of the industry鈥檚 2025 performance until net revenues and gross operating profits
are reported later this spring.
Performance among the different operators remains varied with four seeing year-over-year
gains in year-end brick-and-mortar gaming revenues and five seeing year-over-year
declines. However, all seemed to have struggled in December 2025 with all but one
recording month-over-month decreases in brick-and-mortar revenues.
Atlantic City Gaming Win & Total Casino Revenue
Source:
| Monthly Revenue (Casino Licensees, $ In Thousands |
December 2025 |
% Change from Prior Year | December 2024 | YTD
2025 |
% Change from Prior Year | YTD 2024 |
|---|---|---|---|---|---|---|
| Casino Gaming Win | 216,122 | -6.7% | 231,753 | 2,894,142 | 2.7% | 2,817,84 |
| Internet Gaming Win | 273,178 | 19.8% | 228,011 | 2,911,241 | 22.0% | 2,387,164 |
| Sports Wagering Revenue* | 62,376 | 105.4% | 30,373 | 665,894 | 35.1% | 492,982 |
| Total Gaming Win (includes Internet & Sports Wagering) | 551,677 | 12.6% | 490,137 | 6,471,277 | 13.6% | 5,697,990 |
| Quarterly Revenue (Industry, $ In Millions)** | Q3 2025 | % Change from Prior Year | Q3 2024 | YTD September 30, 2025 | % Change from Prior Year | YTD September 30, 2024 |
|---|---|---|---|---|---|---|
| Casino | $449.23 | 4.1% | $431.61 | $1,265.02 | 0.2% | $1,236.01 |
| Rooms | $229.16 | -3.8% | $238.33 | $542.42 | -4.7% | $569.15 |
| Food & Beverage | $162.55 | -1.6% | $165.13 | $425.05 | -3.3% | $439.40 |
| Entertainment & Other | $101.15 | -6.4% | $108.10 | $399.24 | 47.2% | $271.30 |
| Casino Licensees Total Net Revenue | $942.09 | -0.1% | $943.16 | $1,366.71 | 6.8% | $1,279.84 |
| Gross Operating Profit (GOP) | $236.22 | -2.7% | $242.86 | $556.89 | -3.4% | $576.66 |
* Data as reported in New Jersey Division of Gaming Enforcement for individual licensees for respective months. May not match . Does not include Racetracks.
** Data agregated from New Jersey Division of Gaming Enforcement for individual properties. May not match totals from which represent a 'snapshot' of data at the time of publication and are not retroactively updated.
Atlantic City Hotel Lodging
Source:
| Casino Hotel Lodging Statistics For the Period Ended September 30, 2025 & 2024 |
Q3 2025 | Q3 2024 | YTD 2025 | YTD 2024 |
|---|---|---|---|---|
| Occupancy percentage | 84.3% | 84.1% | 73.3% | 74.1% |
| Average Daily Room Rate (ADR) | $195.40 | $201.08 | $178.12 | $182.97 |
| Revenue Per Available Room (RevPAR)* | $164.72 | $169.11 | $130.56 | $135.58 |
* RevPAR= ADR X Occupancy Percentage
Atlantic City Casino Operator Taxes & Fees
Source:
Total Paid Taxes & Fees |
$308,255,650 | $231,340,000 | 9.34% | |||
|---|---|---|---|---|---|---|
Taxes & Fees |
Q3 2025 | Q3 2024 | % | |||
|
Casino Gaming Gross Revenue Tax |
$52,431,661 | $50,609,000 | 3.60% | |||
|
Internet Gaming Gross Revenue Tax |
$146,247,252 | $90,330,000 | 61.90% | |||
|
Sports Wagering - Retail Gross Revenue Tax (includes racetracks) |
$559,240 | $942,000 | -40.63% | |||
|
Sports Wagering - Internet Gross Revenue Tax (includes racetracks) |
$48,894,653 | $32,493,000 | 50.48% | |||
| Investment Alternative Tax/CRDA Obligations | $28,847,645 | $25,017,000 | 15.31% | |||
| 1.25% Additional Tax | $1,806,161 | $1,775,000 | 1.70% | |||
| 1.25% EDT | $1,315,194 | $1,494,000 | -11.97% | |||
| Luxury Tax | $14,833,994 | $15,129,000 | -1.95% | |||
| Tourism Promotion Fee | $2,598,635 | $2,530,000 | 2.67% | |||
| Hotel Room Fee | $3,518,151 | $3,555,000 | -1.06% | |||
| Hotel Room Surcharge | $2,345,434 | $2,370,000 | -1.04% | |||
| Parking Fees | $4,857,630 | $5,092,000 | -4.62% | |||
Atlantic City Casino Operator Spending
Source: - Member Reported
| Total | $165,803,924 | $154,678,000 | 7.19% | ||
|---|---|---|---|---|---|
Purchase of Goods and Services From New Jersey Vendors(By County) |
Q2 2025 | Q2 2024 | % | ||
| Atlantic | $96,449,821 | $100,051,000 | -3.6% | ||
| Bergen | $1,763,377 | $2,542,000 | -30.6% | ||
| Burlington | $3,166,977 | $3,859,000 | -17.9% | ||
| Camden | $4,995,742 | $5,117,000 | -2.4% | ||
| Cape May | $2,588,684 | $2,021,000 | 28.1% | ||
| Cumberland | $5,826,216 | $5,585,000 | 4.3% | ||
| Essex | $9,958,985 | $10,880,000 | -8.5% | ||
| Gloucester | $2,483,985 | $2,621,000 | -5.2% | ||
| Hudson | $589,799 | $621,000 | -5.0% | ||
| Hunterdon | $20,210 | $28,000 | -27.8% | ||
| Mercer | $1,5925,711 | $3,690,000 | 331.6% | ||
| Middlesex | $4,063,079 | $3,425,000 | 18.6% | ||
| Monmouth | $4,560,199 | $2,689,000 | 69.6% | ||
| Morris | $1,080,211 | $1,565,000 | -31.0% | ||
| Ocean | $1,700,347 | $880,000 | 93.2% | ||
| Passaic | $1,928,613 | $926,000 | 108.3% | ||
| Salem | $103,064 | $122,000 | -15.5% | ||
| Somerset | $2,674,073 | $2,630,000 | 1.7% | ||
| Sussex | $2 | 0 | N/A | ||
| Union | $5,917,508 | $5,421,000 | 9.2% | ||
| Warren | $7,000 | $4,000 | 82.9% | ||
Other Spending |
Q2 2025 | Q2 2024 | % | |||
|---|---|---|---|---|---|---|
| Capital Expenditures | $6,1344,192 | $47,678,000 | 28.7% | |||
| PILOT Contributions (Includes PILOT & additional payments under PILOT legislation) | $32,086,110 | $29,788,000 | 7.7% | |||
| CRDA Special Improvement District | $299,199 | $331,000 | -9.6% | |||
| Municipal/Atlantic City Fees- Water | $1,478,631 | $1,253,000 | 18.0% | |||
| Municipal/Atlantic City Fees- Sewer | $3,353,265 | $3,445,000 | -2.7% | |||
|
Municipal/Atlantic City Fees- Other (permits, boardwalk seating, mercantile etc.) |
$1,384,243 | $1,190,218 | 16.3%% | |||
| Charitable Contributions | $307,374 | $310,000 | -0.8% | |||
Total Spending |
$266,057,000 | $238,673,000 | 11.5% |
|---|
Atlantic City Statistical Transportation Data
Source:
|
Travel Mode |
November 2025 |
November 2024 |
Change from Prior Year |
YTD 2025 |
YTD 2024 |
Change |
|---|---|---|---|---|---|---|
| AC Expressway | ||||||
| Total Toll-Paying Traffic Pleasantville Toll Plaza |
1,321,841 | 1,367,839 | -3.4% | 16,339,675 | 16,770,066 | -2.6% |
| AC Airport | ||||||
| Scheduled Service Passengers | 50,314 | 71,409 | -29.5% | 677,708 | 854,662 | -20.7% |
| Charter Passengers | 9,055 | 9,219 | -1.8% | 108,953 | 118,850 | -8.3% |
| Total Air Passengers | 59,369 | 80,628 | -26.4% | 786,661 | 973,512 | -19.2% |
* A note regarding year-over-year comparison of Toll-Paying Traffic at Pleasantville Toll Plaza of the Atlantic City Expressway. In the period January 2020 through January 2026 tolls on the Atlantic City Expressway have increased by approximatly 52%.
Atlantic City Meetings and Conventions Data
Source:
| December '25 | December '24 | % Change from Prior Year |
TOTAL 2025 YTD |
TOTAL 2024 YTD |
% Change from Prior Year |
|
|---|---|---|---|---|---|---|
| Conventions/Tradeshows/Meetings1 | ||||||
| # of Shows | 7 | 11 | -36% | 68 | 65 | 5% |
| # of Room Nights | 3,905 | 2,168 | 80% | 115,334 | 100,742 | 14% |
| # of Attendees3 | 5,904 | 7,279 | -19% | 387,674 | 373,555 | 4% |
| Delegate Spending | $3,097,910 | $3,223,447 | -4% | $120,416,912 | $100,322,753 | 20% |
| Boardwalk Hall Bookings | ||||||
| # of Shows | 1 | 2 | -50% | 35 | 33 | 6% |
| # of Attendees | 150 | 300 | -50% | 199,115 | 150,912 | 32% |
| Hotel Bookings | ||||||
| # of Shows | 10 | 8 | 25% | 158 | 147 | 7% |
| # of Room Nights | 8,717 | 5,061 | 72% | 128,197 | 104,941 | 22% |
| # of Attendees | 12,827 | 11,105 | 16% | 207,722 | 138,805 | 50% |
| Delegate Spending | $3,967,302 | $3,938,862 | 1% | $91,593,713 | $69,655,932 | 31% |
| Monthly Totals | ||||||
| # Convs_Trade_Mtgs / Boardwalk Hall / Hotel | 18 | 21 | -14% | 261 | 245 | 7% |
| # of Room Nights | 12,622 | 7,229 | 75% | 243,531 | 205,683 | 18% |
| # of Attendees | 18,881 | 18,684 | 1% | 794,511 | 663,272 | 20% |
| Delegate Spending | $7,065,212 | $7,162,309 | -1% | $212,010,625 | $169,978,685 | 25% |
1Includes Visit Atlantic City events booked at Boardwalk Hall
3Variance in attendance numbers due to revisions in calculating and tracking methods
*All numbers as of January 15th, 2026
Atlantic City Information
Atlantic City takeover leigislation put to a vote - As recorded by the New Jersey legislature, a bill (/) extending the "Municipal Stabilization and Recovery Act" passed the state Senate on Dec. 22 and the state Assembly on Jan. 12. If enacted, the bill would extend the state's governance of Atlantic City for six years and give the state the right to impose a "master redeveloper" for big economic development projects in the city. The original Municipal Stabilization and Recovery Act, enacted in 2016, gave the state Department of Community Affairs vast control over the city's finances and governing power. As of Jan. 15, Gov. Phil Murphy had yet to sign the bill into law. Further reporting from .
Atlantic City Planning Board advances revisions to Marina District Redevelopment Plan - As reported by , the city's Planning Board has endorsed an amended plan that would loosen development rules for the Marina District 鈥 potentially reshaping more than 90 acres of long-underused waterfront land. The area includes a 70-acre tract between Harrah鈥檚 Resort Atlantic City and the Borgata Hotel Casino & Spa, which, pending City Council approval, could potentially be developed as a full mixed-use neighborhood with new homes, commercial space and improved circulation for pedestrians and cyclists.
Casino Reinvestment Development Authority (CRDA) hears plan to convert part of Sheraton Atlantic City Convention Center Hotel for senior housing - As reported by , on Dec. 18, the CRDA heard a plan from the owners of the Sheraton Atlantic City Convention Center Hotel to convert part of the property to senior housing and upgrade the remaining hotel rooms. The proposal suggests converting existing hotel rooms into 130 age-restricted residential units and renovating the 252 hotel rooms that would remain. Proposed work, estimated to cost $85 million, would also include the expansion of existing exterior amenities; renovation of the first and second levels of the building; and construction of a pedestrian canopy within the porte-cochere area to provide weather protection for guests.
Pennsylvania-based developers apply for permission to build 152 townhouse units - As reported by , Pennsylvania based Inlet AC Partners LLC has applied to the Casino Reinvestment Development Authority for permission to build 152 townhouse units on largely vacant land in the city's southeast Inlet section. The project, which would span from New Hampshire Avenue to Rhode Island Avenue between Oriental Avenue and the Boardwalk, would consist of four detached units, one duplex containing two units, and 146 units in 19 buildings. It is located near another development approved by the CRDA in January 2025 where 38 townhouses will be built by homebuilder K. Hovnanian.
RMS Capital LLC buys former fire station with plans for redevelopment - As reported by , RMS Capital LLC, led by Mark Callazzo, has purchased the former Fire Station 7 at 535 Atlantic Ave. The company has filed an application with the Casino Reinvestment Development Authority to restore the property and prepare the inside for use as a hub for multiple businesses.
New Jersey Gaming News
DraftKings fined $32,000 for taking bets on sporting events that already occurred - As reported by , New Jersey gambling regulators have fined DraftKings $32,500 for violations including taking bets on sporting events that had already ended and whose outcomes were already known.
Licensing of three casinos for New York a catalyst for renewed calls to expand North Jersey Gaming - As reported by , in response to recent gaming expansion in New York, New Jersey lawmakers have renewed calls to authorize and build a casino in the North Jersey Meadowlands. As noted by The Press, "the Atlantic City casino industry strongly opposes gambling anywhere else in the state and has long lobbied lawmakers against the idea."
National Gaming News
Bally's moves toward sale of Rhode Island casino real estate - As reported by , Bally's announced it had secured private financing. This financing would facilitate the sale of Twin River Lincoln Casino (Lincoln, Rhode Island) real estate to Gaming and Leisure Properties in the first quarter of 2026.
Crypto.com and Kalshi form coalition - As reported by , Crypto.com and Kalshi have formed the Coalition for Prediction Markets (CPM), an organization aimed at fostering 鈥渟afe, transparent, and federally supervised access to prediction markets.鈥 Other coalition members include Coinbase, Robinhood and Underdog.
Fanatics, DraftKings and FanDuel launch predictions market platforms - As reported by , Fanatics has launched its predictions market platform, Fanatics Markets, in 10 states with plans to expand to 24 states, including California and Texas. Fanatics' Dec. 3 release beat out competitor DraftKings, which including California, Georgia and Texas (where sports wagering is not presently permitted) on Dec. 19. According to a Dec. 22 from business partner CME Group, FanDuel has also launched their platform, 鈥淔anDuel' Predicts鈥 in five states with plans for continued expansion in 2026.
Las Vegas gaming win surges to second highest November on record despite 10th consecutive month of year鈥憃ver鈥憏ear declines in visitation - Citing reports from and (LVCVA), reports a 2.4% increase in year-over-year statewide gaming win in November 2025, despite a 5.2% decrease in visitation (roughly 170,000 to 172,000 fewer people) to Las Vegas for the month. While November 2025 gaming win represented a second straight monthly percentage increase, the fourth-best month of 2025 and the second-best November ever recorded, it occurred in the 10th consecutive month of year鈥憃ver鈥憏ear losses in visitation to Las Vegas. Year-to-date November 2025, total visitation for the destination trailed the same period in 2024 by 7.2%. Further reporting from .
Online sweepstakes casinos utilizing dual-currency schemes now banned in New York - As recorded by the and reported by , on Dec. 5, New York Gov. Kathy Hochul signed into law a statute that prohibits online social gaming platforms from utilizing dual currency schemes that essentially allow players to gamble for money. This effectively bans sweepstakes casinos in the state.
Hospitality & Tourism News
Atlantic City Expressway, New JerseyTurnpike and Garden State Parkway begin 2026 with 3% toll hike - As reported by and , costs for New Jersey motorists will increase in 2026 as the Atlantic City Expressway, New Jersey Turnpike and Garden State Parkway enact a 3% toll hike in January 2026. The New Jersey state gas tax is also slated to increase by $0.04 effective Jan. 1.
First Allegiant flight departs Atlantic City International Airport - As reported by , Allegiant Air made its first flight from Atlantic City International Airport on Dec. 11. The Fort Lauderdale-bound flight departed around 7:40 p.m. following a 6 p.m. ceremony at the airport. The departure marked the start of several new nonstop routes the airline is introducing through the start of 2026. The expanded service is expected to give the region an economic boost. Further reporting from , including statements from Mark Giannantonio, president of the Casino Association of New Jersey and of Resorts Casino Hotel, Jane Bokunewicz, director of 淫性视频's Lloyd D. Levenson Institute of Gaming, Hospitality & Tourism and Emily Bartling, director of revenue for Allegiant.
Representatives from Casino Employees Against Smoking Effects (CEASE) ask Gov. Phil Murphy to act on smoking ban legislation - As reported by , in a Dec. 17 letter, members of CEASE requested that the governor get the state Legislature to vote on a smoking ban and send it to his desk before he leaves office. The governor has repeatedly said he would sign a smoking ban into law if a bill reaches his desk. Further reporting from
LIGHT Snapshots is a publication of the Lloyd D. Levenson Institute of Gaming, Hospitality & Tourism, 淫性视频 School of Business
Jane Bokunewicz, Ph. D., Faculty Director and Professor of Hospitality
