The New Jersey Division of Gaming Enforcement (DGE) released its quarterly and year-end results on April 7, showing a dip in Atlantic City casino profits for 2024. Casino operators reported $3.3 billion in net revenue—a 0.5% decrease from 2023—and a gross operating profit of $709.1 million, down 9.2% year-over-year. “Despite another record-high gross gaming revenue… Read more »
The Water Club hotel, part of the Borgata casino complex in Atlantic City, New Jersey, is undergoing a $55 million redesign and will be rebranded as MGM Tower, joining a number of hospitality properties in the gaming mecca undergoing facelifts. The Borgata Hotel Casino & Spa on Tuesday unveiled its plans for the Water Club as the complex approaches… Read more »
The New Jersey Division of Gaming Enforcement announced the December 2022 gaming results Jan. 17, which saw the state’s casinos end the year on a high note. Last month, casino win for the nine Atlantic City casino properties was $215.6 million, an 18% increase versus December 2021 ($211.8 million). “Even up against strong seasonal and… Read more »
The state of New Jersey hasn’t named a replacement yet for the executive director of the Casino Reinvestment Development Authority, who is leaving that agency in Atlantic City effective Jan. 28. Matthew Doherty, a former mayor of Belmar, New Jersey, and previously a financial adviser, took over as executive director of the CRDA in 2018…. Read more »
An entrepreneurial Detroit family that owns the Little Caesars pizza chain as well as a casino in the Motor City plans to acquire up to 50% ownership in the Ocean Casino Resort in Atlantic City, the seaside New Jersey gambling mecca that’s the nation’s second biggest gaming market. Luxor Capital Group, a New York City… Read more »
