The Ocean Casino Resort, located on the Atlantic City Boardwalk, is one of the prominent gaming and avia masters free play entertainment destinations in New Jersey. Since its opening in 2018, Ocean Casino has undergone several ownership changes, reflecting the dynamic nature of the gaming industry in Atlantic City.
As of 2023, the primary owner of Ocean Casino Resort is Luxor Capital Group, a New York-based investment firm. Luxor Capital Group acquired a significant stake in the casino in 2021, taking over the management and operational responsibilities. The firm is known for its investments in various sectors, including hospitality and real estate, and has made substantial efforts to revitalize the Ocean Casino since its acquisition.
Before Luxor Capital Group’s involvement, the casino was initially opened as the Revel Casino Hotel in 2012. However, Revel faced financial difficulties and eventually closed in 2014. The property was then purchased by a group of investors and reopened as Ocean Casino Resort in June 2018. The reopening was marked by a significant investment in renovations and upgrades, aiming to enhance the guest experience and attract a diverse clientele.
In 2020, the ownership landscape shifted again when the casino was sold to a group led by Bruce Deifik, who was instrumental in the property’s transformation from Revel to Ocean. Unfortunately, Deifik’s group faced financial challenges, leading to a restructuring of the ownership. This situation prompted Luxor Capital Group to step in and acquire a controlling interest in the casino, allowing for a more stable management structure.
Under Luxor’s ownership, Ocean Casino Resort has focused on improving its offerings, including expanding its gaming floor, enhancing dining options, and enhancing the overall guest experience. The casino has also emphasized its commitment to sustainability and community engagement, aligning with broader trends in the hospitality and gaming industries.
Moreover, the leadership team at Ocean Casino has seen changes with the new ownership. The management has been proactive in implementing strategies aimed at increasing profitability and attracting more visitors to the resort. This includes hosting various events, promotions, and partnerships with local businesses to create a vibrant atmosphere that appeals to both tourists and locals.
The casino has also positioned itself as a competitive player in the online gaming market, leveraging its brand recognition and physical presence to attract online gamblers. This strategic move is crucial in a state where online gaming has become an increasingly important revenue stream for casinos.
In conclusion, the Ocean Casino Resort in Atlantic City is currently owned by Luxor Capital Group, which has taken significant steps to revitalize the property and enhance its appeal. The casino’s journey from Revel to Ocean Casino reflects the challenges and opportunities present in the Atlantic City gaming market. With ongoing investments and a focus on innovation, Ocean Casino is poised to continue its growth and success in the competitive landscape of Atlantic City.
