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Two newest casinos in Atlantic City are approaching the top of the market Visitors Jimi Hendrix Rolls Royce Denver Colorado

Three years ago, when two people released the shutter Atlantic City I was a little skeptical about whether it would be a good idea to add two casinos to the market where the casinos are back and just lost five.

But now there is little doubt about these two casinos — Hard Rock And Ocean Casino Resort — Succeeded in gaining innovative market share and giving visitors a new reason to come to Atlantic City.

Both casinos operated the first full day on the same day: June 28, 2018.

Hard Rock ranked second among nine casinos last year at $ 224.8 million in terms of the amount of money it earned from face-to-face gamblers. Ocean was third with $ 183.5 million.

Their performance rocked the Atlantic City market, forming a new Big 3: market leader Volgata and two newcomers. (Including internet and sports betting money, Borgata, Golden Nugget and Hard Rock ranked 1-2-3 last year.)

“Last year’s changes in hard rock and ocean were not only comparable to Volgata, but also remarkable to overtake Caesars Entertainment’s properties,” said Jorpo, president of Atlantic City, Hard Rock.

Ocean CEO Terry Glebocki said: , Won $ 55 million. “

Jane Boknevic, coordinator of the Lloyd Levenson Institute at Stockton University, said both casinos brought something new.

“The focus on hard rock live entertainment with a full calendar of top artists before and after the pandemic has brought new life to the properties built for shows and events,” she said. “The sea remodeled the former Revel Add properties, casino amenities and maximize the building’s existing assets to create a luxury resort with powerful casino products. “

She added that both casinos could be better in terms of steadily growing internet gambling in Atlantic City.

In an interview with The Associated Press, many customers said they like ocean floor-to-ceiling glass walls overlooking the beach and ocean. I also liked the casino pool and outdoor space.

Hard rock was almost universally described as the brightest casino in town, but not everyone thought it was positive. Customers are impressed with the live entertainment and music souvenirs, but wish they had an outdoor pool.

“Ocean and Hard Rock achieve the best possible coexistence without having to step into each other’s lanes,” said Courtney Conklin of Galloway, NJ. “The ocean is wide open. A more relaxed artistic atmosphere, hard rock is high energy and bright. Both maintain high standards of service and player treatment while strengthening their own draws. ”

Both casinos have been reborn from failure — and nothing is more spectacular than the level of Ocean’s predecessor. It opened in 2012 at a cost of $ 2.6 billion, never made a profit, went bankrupt twice and closed in 2014.

Reopened as Ocean under the ownership of Colorado developer Bruce Deifik.

However, Deifik quickly ran out of money, and the New York hedge fund Luxor Capital Group, which had lent him millions, took over the assets in return for canceling the debt. Deifik died in a car accident in Denver in April 2019.

Luxor has issued a simple march to Glebocki: the casino spends too much money and reverses the current financial situation that it hasn’t brought in enough. A new high limit table gaming area, a new Asian gambling space, and a new guest lounge for those with loyalty cards.

moved. Ocean won $ 183.5 million from gamblers in the casino last year. Gross operating profit was $ 21.8 million, an increase of 224% over the previous year.

Hard Rock occupies the building that housed the Trump Taj Mahal Casino, which was closed in 2016.

The company destroyed the building from top to bottom and imported a large number of trademark music memorabilia from the world’s largest collection. Visitor As you walk through the front door, a mannequin in a Beatles suit stands in front of you. Elvis Presley ■ Rolls-Royce, one of Michael Jackson’s sequined gloves, one of many shale dresses, near the guitars of hundreds of artists, including Jimi Hendrix and Prince.

Hard Rock won $ 224.8 million from face-to-face gamblers in 2020. This is second only to Volgata, which has won over $ 100 million. Hard Rock’s total operating profit last year was $ 10.9 million, down 71% year-on-year.

In terms of overall revenue, including internet gambling and sports betting money, Hard Rock came in fourth with $ 290 million last year. Meanwhile, Ocean earned $ 214 million and was ranked 6th out of 9 casinos.


Follow Wayne Parry at AC.

Two newest casinos in Atlantic City are approaching the top of the market Visitors Jimi Hendrix Rolls Royce Denver Colorado

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