written and last updated by
Sam Smith at
17 May 2024
Journalist, Editorial Department
The Lloyd D. Levenson Institute of Gaming, Hospitality, and Tourism (LIGHT) has partnered with the New Jersey Casino Association to release a report on the performance of Atlantic City's gaming industry. In 2023, tax revenue reached a record $467 million, marking a 12% increase over the previous high of $417.5 million set in 2006.
The industry employs 22,634 people, making it one of the largest employers in the region. Mark Giannantonio, president of the New Jersey Casino Association, emphasized this point, stating, "When our properties succeed, our employees and the communities we serve succeed as well."
The report highlights that Atlantic City's gaming industry contributed a record $504 million to the Casino Revenue Fund, which supports vulnerable populations. Additionally, $632 million was spent on goods and services. Giannantonio noted that these figures illustrate the support the gaming business provides to New Jersey residents and state suppliers.
According to the report, the total net revenue for Atlantic City casino operators in 2023 was $3.32 billion. Gaming companies also invested $258 million in capital improvements, the highest level since 2008.
Approximately 17.8 million visitors came to Atlantic City in 2023, a 3.2% increase from 2022, although still below pre-pandemic levels in 2019. The gaming industry has yet to fully recover from the impacts of COVID-19, as confirmed by Jane Bokunewicz, director of the LIGHT faculty. However, she noted that despite the challenges, the gaming business continues to evolve.
"The casino industry remains an economic engine not only for South Jersey but for the entire state. Over the past five decades, this sector has delivered significant dividends to the city and state. It will continue to play a vital role in the long-term success of the region," Bokunewicz stated.
For context, Nevada's gross gaming revenue reached $1.29 billion in March 2024.
