Casinos in Atlantic City Record Profits, Yet Majority Earned Less Revenue Compared to 2023's Figures
Article:
Casinos' Profit Dips, but Experts Predict Rebound
By: Mitch (Not an Exact Name)04/09/2025 12:26 Finance BreakdownPhoto by Flickr, CC by-NC 2.0 (https://creativecommons.org/licenses/by-nc/2.0/)
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I'm a former graduate of Virginia Tech, an ex-NCAA track and field athlete, and a passionate sports fan and sports bettor. I aim to supply cutting-edge coverage of the latest happenings and trends in the sports betting sector. Joining the professional ranks in 2021, I've collaborated with esteemed entities such as Forbes and VSiN, forging a dependable reputation in the industry. When I'm not working, I'm probably hitting the gym, strolling around town, or catching the day's big game. ▶ Find out more about me
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The Latest Trends
Although only Caesars and Hard Rock managed to boost their net income year-over-year, the remaining nine casinos suffered a collective loss of 9.2% in profit. However, a casino official in New Jersey has expressed optimism about a potential rebound in 2025. 🗞️ Read more
Notable Insights
- Online Gaming and Sports Betting GrowthOnline gaming and sports betting fueled a 26% YoY revenue growth in February 2025. iGaming alone clocked in at $1.62 billion YTD, a 27.9% increase from 2024. As leading players like Caesars capitalize on digital expansion, this trend will likely facilitate the success of industry behemoths.
- Land-Based ChallengesTraditional gaming revenue receded by 4.1% YoY in February, with slots and table games collectively declining by 5.8%. Pennsylvania's total gaming revenue took a dive of 4.4% in February, but its iGaming sector registered a robust growth of 12.3%.
- Operational Efficiency ImprovementsMonarch Casino streamlined its operating costs, bringing down casino operating expenses to 37.7% of revenue in Q1 2025. This cost optimization strategy is likely to be replicated by major competitors aiming to cut expenses.
Market Projections
The global casino market is expected to expand at a 5.6% CAGR through 2033, eventually reaching $135.79 billion. This growth can be attributed to the adoption of VR technology and hybrid experiences that marry physical and digital gaming. Big-name operators like Caesars and Hard Rock, which are progressively focusing on digital platforms and destination redesigns, are well-positioned to reap the benefits of these trends.
For Hard Rock, emphasis on immersive environments aligns with the evolving gaming landscape, while Caesars' iGaming expansion mirrors broader sector growth.
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- In the sports betting sector, Mitch Mitchell, a former NCAA athlete and passionate sports bettor, provides insightful coverage on the latest trends.
- The global casino market, incorporating entities like Caesars and Hard Rock, is forecasted to grow at a 5.6% Compound Annual Growth Rate (CAGR) until 2033, reaching $135.79 billion.
- Online gaming and sports betting contributed to a 26% Year-Over-Year (YoY) revenue growth in February 2025, with iGaming alone accounting for $1.62 billion Year-To-Date (YTD), a 27.9% increase from 2024.
- Sports betting is not limited to physical casinos; online casino games like poker, blackjack, and slots, as well as sports betting, are becoming increasingly popular, making Las Vegas and other casino hubs part of a larger, evolving casino-and-gambling culture.
- Despite a collective loss of 9.2% in profit for most casinos, a casino official in New Jersey remains optimistic about a potential rebound in 2025, fueled by trends such as online gaming and sports betting.
- As traditional gaming revenue recedes, entities in the casino industry are implementing innovations like VR technology and cost optimization strategies to adapt to gambling trends and ensure long-term success.
