ATLANTIC CITY — Ocean Resort Casino will remain open and the property’s nearly 3,000 jobs are safe for now following an announcement Thursday that the megaresort was changing hands after six months of operation.
After purchasing the $2.4 billion casino hotel in January 2018 for $229 million, Bruce Deifik, the current owner, will retain a non-controlling ownership interest but an outside company will assume majority ownership. Deifik did not identify the new company.
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The change comes amid six months of lagging game revenues, a $10 million lawsuit by a former employee and several other pending legal issues including construction liens.
“It has been truly an honor for myself and my family to have taken this property, opened its doors and brought back the players, the families, the convention guests and the sports betting enthusiasts,” Deifik told The Associated Press. “My family and I want to thank the 3,000-plus employees at Ocean for their tireless work to bring our property to life and put it on track to become the best gaming property in New Jersey. If approved and closed, this next round of investment into Ocean will put this property on an exciting path to growth.”
The Boardwalk property formerly known as Revel Casino Hotel reopened to the public June 27, along with Hard Rock Hotel & Casino Atlantic City. The two casinos contributed to a historic summer in the seaside resort and were heralded as key players in Atlantic City’s resurgence.
The new controlling entity plans to use about $70 million in capital to open a buffet, additional suites and rooms, and investments on the casino floor. It also plans “a substantial increase” in its entertainment programming and player events in 2019.