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Ocean Resort Casino opening brings new hope for AC

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Ocean Resort Casino, the tallest building in Atlantic City.
Ocean Resort Casino, the tallest building in Atlantic City. - ()

Everyone is betting on Ocean Resort Casino as it kicked off its official opening on the Atlantic City boardwalk Thursday, with hotel executives expressing high hopes for the property’s future.

The city’s tallest building occupies the former space of the Revel Casino Hotel, which closed its doors soon after it opened in 2014 following a string of bankruptcies.

Revel was originally opened in 2012 with a total investment of nearly $3 billion.

Bruce Deifik, chairman of AC Ocean Walk LLC, bought the 20-acre resort for $200 million in January, with the property going through a top-to-bottom transformation.

“The transformation of Ocean Resort Casino has been such a rewarding experience, both from a development and operational standpoint, due to the renewed energy and enthusiasm from the residents and visitors of Atlantic City to see a revitalization of the gaming industry,” Ocean Resort Casino CEO Frank Leone said. “As our vision for this resort casino started taking shape, we began to realize how remarkably special this opportunity was for this time and this place.”

Executives from AC Ocean Walk and Ocean Resort Casino and Hyatt were joined by Atlantic City Mayor Frank Gilliam, New Jersey Senator Chris Brown and Director of the New Jersey Division of Gaming Enforcement Dave Rebuck as the city celebrated its second grand hotel opening of the day.

The Hard Rock Hotel and Casino Atlantic City opened just hours earlier at the site of the former Trump Taj Mahal.

“Atlantic City is truly back in the game,” Gilliam said at his second official opening of the day.

Actors Mark Wahlberg and Jamie Foxx added some extra glitz and glamour to the event, with Wahlberg placing a bet in the casino’s sports book.

The 138,000-square-foot-casino features 100 table games, approximately 2,000 slot machines and a 7,500 square-foot sports book and bar.

The hotel boasts 165,000 square feet in meeting and convention space, as well as a 5,700 seat concert hall with space for potential future expansion. 

The hotel’s debut weekend will feature a lineup of A-list appearances, including Diplo and Jermaine Dupri.

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Elana Knopp

Elana Knopp

Elana Knopp covers all things real estate for NJBIZ. You can contact her at eknopp@njbiz.com.

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