Atlantic City’s casino floors may be losing some of their shine. New analysis of figures from 2024 and the first two months of 2025 reveals a dip in in-person revenue across New Jersey’s iconic coastal gambling hub, while online casino revenue continues to accelerate.
The Revenue Trends
The nine remaining Atlantic City casinos reported a 1.1% decline in Gross Revenue Retention (GRR) for 2024 compared to 2023. The new year initially offered a glimmer of hope, with January 2025 showing a 3% year-over-year increase. However, that momentum did not last, with the February 2025 GRR dropping 3.8% from the same month in 2024.
Meanwhile, online casinos are heading in the opposite direction. February 2025’s iGaming revenues hit $207.8 million, a 14% jump year-on-year, and importantly, a figure that surpassed Atlantic City’s in-person revenue for the second straight month.
The Numbers at a Glance
- 2024 Atlantic City revenue: Down 1.1% vs. 2023
- January 2025 GRR: Up 3% vs. Jan 2024
- February 2025 GRR: Down 3.8% vs. Feb 2024
- In-person slots: $152.1m (down 4.3%)
- Other in-person activity: $51.3m (down 2.5%)
- Total in-person GRR (Feb 2025): $203.4m
- Total iGaming GRR (Feb 2025): $207.8m (+14% YoY)
Why the Shift?
Industry experts suggest that the decline in in-person gaming does not mean demand for gambling is falling. It is shifting. According to Jane Bokunewicz, director of Stockton University’s Lloyd D. Levenson Institute of Gaming, Hospitality, and Tourism, a quieter winter season at physical casinos “opened the door to more internet gaming activity.” She added that the momentum allowed online platforms to “outpace brick-and-mortar casinos for the second consecutive month.”
This reflects a larger trend in U.S. gaming: players are increasingly drawn to the convenience, variety, and promotions offered by iGaming platforms. Online slots, live dealer tables, and poker rooms are accessible 24/7 and provide an immersive experience without the need to travel to the Jersey Shore.
A Balancing Act for Atlantic City
For Atlantic City’s nine casinos, the challenge will be balancing the in-person entertainment experience with the growing pull of digital gambling. Seasonal factors like harsh New Jersey winters likely played a role in February’s slump, and the industry will be watching closely to see if warmer months bring a rebound in foot traffic.
That said, the broader momentum is clear: iGaming is becoming a dominant force in New Jersey’s gambling landscape. With online revenue already eclipsing brick-and-mortar performance in back-to-back months, it signals a future where digital platforms may lead the way while Atlantic City works to reinvent its in-person appeal.