Atlantic City’s Ocean Resort: Overview and History
Ocean Resort is a prominent casino resort located in Atlantic City, New Jersey. Opened on June 28, 2018, it was rebranded from the former Revel Casino Hotel after undergoing significant renovations and investments.
History of the Property
The property that houses Ocean Resort has undergone several transformations over the years. Initially opened as the Atlantis Casino Hotel in 2005 by developer Bruce Deifik’s company ACF Investment Partners LLC, it struggled financially and faced bankruptcy. In 2010, New York City businessman Glenn Straub purchased the debt-ridden casino for oceancasinoresort.ca $82 million.
Straub invested heavily in renovations, but despite these efforts, Revel still faltered to attract a large clientele and ultimately filed for Chapter 11 bankruptcy protection in March 2015. ACF Investment Partners LLC was granted permission to foreclose on the property later that year, with Straub opting not to proceed with any further development plans.
Ownership Transition
In June 2017, Glenn Straub sold the Revel Casino Hotel to the Florida-based developer Bruce Deifik for $200 million through his company ACF Investment Partners LLC. However, due in part to state tax disputes and various regulatory issues surrounding its closure, a majority of the property remained unsold.
Deifik’s initial intention was to reopen the former Revel under an as-yet unnamed brand after renovations worth nearly half-billion dollars were undertaken on site including renovation upgrades by his team which included major architectural overhaul, and fresh design. Unfortunately, he passed away in 2019 due to injuries sustained during a car crash near Denver Colorado.
In August 2020 Ocean Resort became the third Atlantic City casino resort purchased by former Governor of New Jersey Jon Corzine under terms involving an existing entity’s subsidiary « Resorts Casino Hotel ». In October same year Bruce Deifik gave up ownership as per transfer made with other party purchasing what is known now as AC Investment.
Acquisition by Resorts Entertainment
Atlantic City’s Ocean Resort saw significant investment by the company under ownership control led on part through leadership at time headed over that which included executive management. Under new resort head Glenn Straub, Ocean reopened on June 27 following major renovations taking a total estimated $500 million renovation work in effort towards redeveloping it back to operational standard status now competing in gaming market.
Resorts Entertainment is an affiliated organization that focuses primarily investing resources within Atlantic City area under the current management. They continue focusing efforts aimed reviving the Ocean Resort which reopened earlier this year following new leadership bringing fresh direction & revitalizing a spot once thought to fail but after major change has seen steady improvement in recent years.
Business Strategy and Marketing
After its revival as Ocean Resort, the establishment operates under Resorts Entertainment management with significant emphasis placed on renovation & modernization drives coupled strong marketing efforts geared towards making it stand out in competitive casino market landscape which currently is dominated primarily by Hard Rock Hotel Casino (Atlantic City), Borgata’s new addition now called « Borgata Beach », and Caesars’ Harrah’s as top competitors. It seeks to improve overall clientele experience through fresh designs, innovative food offerings at more restaurants available here on-site including several pools.
Resorts Entertainment has chosen the most favorable time for promoting Ocean Resort having successfully revamped it while keeping in mind market competition & customer preferences so far maintaining its reputation among guests staying with them and generating steady growth year-over-year which indicates sustained recovery from past financial setbacks endured over last few years resulting into today’s highly competitive market environment seen prevalent at Atlantic City casinos where more prominent brands compete for share.
Resorts Entertainment Operations
Under Resorts Entertainment, Ocean Resort operates multiple hotel accommodations offering up to 1,399 rooms across its properties alongside amenities such as casino gaming floor space with thousands of slot machines & live table games featuring an assortment various poker formats available daily including cash games and tournament events which run from morning till late hours at night. The resort offers fine dining choices via extensive upscale restaurants, casual eateries offering international cuisine options also coffee shop services.
Another major part involves large number guest facilities such as outdoor pool areas giving access to multiple pools around designated lounging deck section providing direct beachside views on one side while inside the other half contains a large gym area complete with weight machines plus numerous free weights for guests exercising freely whenever wanting so which complements nicely already well-equipped fitness center spaces located within hotel rooms & suites accessible via smart card key system technology controlling access levels assigned per guest.
Ocean Resort houses ‘Wave Spa’ – an ocean view retreat offering luxurious massages and beauty treatments provided by skilled professionals utilizing products based natural ingredients exclusively purchased at suppliers they personally trust thus minimizing any potential issues arising due environmental concerns faced by companies often criticized today across entire global business sectors.