Atlantic City casinos post biggest monthly revenue drop ever

April 11, 2025

ATLANTIC CITY - Casino revenue continued to plunge at a breathtaking rate in March, setting a record for the biggest monthly decline ever in Atlantic City's 31-year history of legalized gambling.

Revenue from slot machines and table games fell 19.4 percent in March compared with the same period last year - fresh evidence that the recession and stiff competition from Pennsylvania slot parlors will not be going away anytime soon.

Pointing to the relentless volatility in the financial sector, one analyst who studies the Atlantic City and Nevada gaming markets said the casino industry may not have hit rock bottom just yet.

"The real concern is the financial markets, and they still have a long way to go before they stabilize," said William Eadington, director of gambling research at the University of Nevada at Reno. "My suspicion as an economist is that it's too early to expect much of a recovery for the state of Nevada, the state of New Jersey and the gambling industry, although I would certainly like to see one."

Altogether, Atlantic City's 11 casinos took in $318.4 million in revenue in March. Slot winnings skidded 21.3 percent to $218.1 million, while revenue from table games declined 14.7 percent to $100.3 million, according to figures released Thursday by the New Jersey Casino Control Commission.

It was the second dubious month in a row for the casinos. March's 19.4 percent drop in revenue surpassed the previous biggest monthly decline of 19.2 percent, set in February. Overall, it was the seventh straight month of falling revenue.

Every casino suffered a revenue decline in March except for Trump Taj Mahal Casino Resort. Trump Entertainment Resorts Inc.'s flagship property benefited from a nearly 35 percent jump in table game winnings and extra business generated by its new 40-story hotel tower to post a 6.3 percent revenue increase overall.

Still, Trump Entertainment is mired in Chapter 11 bankruptcy, hoping to refinance $1.7 billion of debt that has compounded the effects of declining business at its three casinos in the past two years.

Other casinos are threatened by the gaming slump. Resorts Atlantic City, the oldest casino in town, is facing foreclosure after falling behind on its payments for a $360 million mortgage. Tropicana Casino and Resort is expected to be sold off in a bankruptcy auction in coming weeks as it struggles to find a new owner.

For the first three months this year, Atlantic City gaming revenue has tumbled 16.2 percent to $950.2 million. Slot winnings were down 17 percent in the first quarter, while table game revenue fell 14.5 percent.

March was particularly gruesome. Besides setting a new record for the biggest revenue decline, the month was marred by a snowstorm that hurt business and an unfriendly calendar that had one fewer Saturday than last year.

Nine casinos posted revenue declines of 20 percent or more. The Atlantic City Hilton Casino Resort was the worst performer, with a 34.8 percent decrease. The Hilton, the smallest casino, saw table game revenue plummet 54.2 percent. Trump Marina Hotel Casino was not far behind, down 45 percent at the table games and 32.2 percent overall.

Unlike the Atlantic City casinos, the rival Pennsylvania slot parlors have flourished during the recession. Pennsylvania slot revenue jumped 9.4 percent in March, to $155.1 million. Revenue is expected to increase throughout the year as two new casinos come online in Bethlehem and Pittsburgh and two existing slot parlors build expansion projects - more competition for Atlantic City.