Deifik’s ambitious plans to turn the former Revel into a profitable property by luring mass market customers, the resort began bleeding money shortly after its opening. Late Colorado businessman Bruce Deifik reopened the property last June after paying $200 million to its former owner, Glenn Straub, and investing another $200 million into readying it for relaunch.ĭespite Mr. Heavy financial issues and market saturation resulted in five Atlantic City casinos closing doors between 20, with Revel being one of them.
The Boardwalk hotel and casino resort originally opened doors in 2012 as Revel, but only existed for two and a half years under that name before its closure in 2014. The firm has promised to plough significant amounts of money to keep Ocean afloat. The property is in the process of being handed to a new owner – New York hedge fund Luxor Capital Group.
Ocean Casino Resort in Atlantic City will finally report a profit after months of losses following its opening in June 2018. Ocean Casino Resort finally scored a profit after tumultuous months of financial troubles, property officials say