The CoreCivic, Inc. California City Immigration Processing Center, located in the Kern County desert, is set to reopen as a federal immigrant detention facility under a contract with the US Immigration and Customs Enforcement (ICE) on July 10, 2025.
America’s largest private prison companies, CoreCivic and GEO Group, have reported a combined $1.4 billion in revenue for the spring quarter, with immigration detention figures nearing record levels. This revenue announcement excludes $1.6 billion gained by CoreCivic from selling four facilities to the Department of Homeland Security.
Patrick Swindle, CoreCivic’s President and CEO, disclosed in an earnings call that the average rate per bed equates to $307,000. The earnings, spanning from April to June, reflect the U.S. holding nearly 66,000 in immigration detention, approaching numbers last seen in January, as reported by the Transactional Records Access Clearinghouse.
Both companies are diversifying their revenue streams, including selling ankle monitors for Haitian immigrants without protected status. Swindle noted CoreCivic’s revenue increased by over 27% compared to the same quarter last year, totaling $684.9 million, exceeding expectations despite a government shutdown.
This success came partly from reduced operating costs and an increase in detainees. The impact of CoreCivic’s detention center sales to the government will appear next quarter, forming part of a strategy to fulfill the goal of detaining 100,000 people simultaneously. CoreCivic plans to continue operating these centers and aims to build more. Meanwhile, GEO Group is in similar discussions.
GEO Group’s Government Connections
George Zoley, GEO Group CEO, stated in his earnings call that revenues have risen to $732.1 million, a $96 million or 15% increase from last year, attributable to 2025 contracts. Former GEO Group executive David Venturella, acting as ICE director, has divested his stock according to a letter to lawmakers.
White House Border Czar Tom Homan and former Attorney General Pam Bondi also have past connections with GEO Group. President Trump, according to Citizens for Responsibility and Ethics, holds financial interests in both companies, with Trump’s brokers executing 29 trades in private prison stocks since his return to office.
Expanding Revenue Opportunities
GEO Group highlighted increased sales of ankle monitors, linked to the Intensive Supervision Appearance Program (ISAP) contract with ICE. This includes smartwatches and the SmartLink phone app for monitoring immigrants outside detention.
Zoley expects a significant rise in GPS-tracking ankle monitor use following the end of Temporary Protected Status for Haitian immigrants. “This policy shift may result in more people in the ISAP program under ankle monitoring,” said Zoley. He mentioned the app is more cost-effective than the monitors.
GEO Group’s revenue from government transportation and flight contracts also grew with increased deportations, according to Zoley.