• Thu. May 13th, 2021

Ocean On line casino Resort Broadcasts $15mn Renovation Mission

Ocean casino Resort is about to plow $15 million into varied renovations, following a 12 months when it was the one playing venue of Atlantic Metropolis’s 9 operational properties to see a rise of its working revenue.
Work on revamping the casino and lodge advanced will embody upgrades to the casino flooring and enlargement of a number of of its non-gaming facilities.
Shortly after it debuted The Cove high-limit slot expertise and The Loft personal luxurious gaming suite, the property is now set so as to add an all-new high-limit desk video games facility, Asian gaming house, and two new visitor lounges for members of its Ocean Rewards program.
Moreover, renovation plans additionally embody the set up of recent pathways all through the gaming flooring so patrons might navigate simply between completely different video games. Ocean will even add 250 new slot machines to its present gaming units.
The property first opened doorways in 2012 as Revel. Nonetheless, it closed doorways in 2014 after simply two years of operation. The Boardwalk resort reopened as Ocean Resort casino in the summertime of 2018 below the possession of late Colorado businessman Bruce Deifik.
Mr. Deifik offered the property to its present proprietor, New York hedge fund Luxor Capital Group, in early 2019. It was renamed as Ocean casino Resort shortly after the sale was finalized. Beneath Luxor, Ocean has already spent hundreds of thousands of {dollars} into enhancing its present facilities and including new ones to its providing.
Non-Gaming Upgrades
In a Monday press launch, Ocean additional introduced that it might broaden a few of its non-gambling amenities, together with its swimming pools, cabanas, seaside, culinary hospitality choices, and leisure experiences. The property mentioned that additional particulars about what every of those deliberate upgrades would entail can be launched later this 12 months.
As talked about above, Ocean was the one Atlantic Metropolis casino resort to report a progress in its working revenue. Regardless of the a number of restrictions compelled by the Covid-19 pandemic, the property generated revenue of $21.8 million in 2020, up from $6.7 million a 12 months earlier.
Except for the $15 million funding into additional enhancing its amenities, Ocean mentioned that it has additionally earmarked $1 million for annual wage will increase and bonuses to eligible workers members. The property additional plans to donate $50,000 to a number of native charities.
Ocean CEO Terry Glebocki mentioned that the resort’s “curiosity in our individuals, product, and group is a testomony to the progressive path our property is shifting towards as we enter into the summer season months” and that as restrictions are lifted and so they start reopening further areas, she is thrilled to have the ability to current their company with “an evolving gaming expertise that’s distinctive to the market.”
Final week, Ms. Glebocki was appointed as the brand new president of the casino Affiliation of New Jersey to develop into the commerce group’s first feminine chief.
In separate information from earlier this month, it turned recognized that Luxor has reached a deal to promote as a lot as half of its possession in Ocean to the Ilitch household of Detroit for an undisclosed quantity.
Supply: Ocean casino Resort Broadcasts $15M Reinvestment, PR Newswire, April 19, 2021

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