With new owners again, the $5 Billion hedge fund Luxor Capital Group plans to pour more than $70 Million into the new and improved casino-first property. After the Deifik era and a name change, it’s time to bring one of Atlantic City’s most prized possessions back to the forefront. With several new modifications underway, Ocean Casino Resort (OCR) is now in a good position for a 2019-20 comeback.
As most would agree, it’s not easy to take over a struggling business and bring it back to life. However, OCR’s newest owners accept the challenge. With a new management team at the wheel, the Casino is showing determination as it seeks to prosper in AC’s competitive gaming market. Since its Grand Opening in 2012 as the Revel, OCR spent four years in the dark. Plus, bankrupt the previous two owners.
So by all means, this investment at hand is a sure show of confidence. Not to mention, OCR is about to become one of the most exciting destinations in the city. According to OCR’s SVP of Marketing Mike Donovan, they’ve got a lot of big things going on. Furthermore, they plan to have most of it complete by this summer. Which, is right around the corner with less than a week to go.
Change In Motion
Over Memorial Day weekend, Ocean Casino Resort once again put Casino first by debuting new elevators that’ll take you from the lobby straight to the middle of the casino floor. “It cuts your steps by half just to get from the casino to the hotel’s main entryway,” said Donovan. Also, the new owners are in the process of developing a new casino lounge and a speakeasy nightclub. Although it’s still unclear when that project will launch. So as this transformation gets underway, stay tuned, there’s so much more to come.