The hotel and casino complex never turned a profit until 2014, when, after two bankruptcies, it closed doors.įlorida businessman Glenn Straub bought the shuttered resort the following year. The first owners of the $2.4 billion property had high hopes for it, but those were never fulfilled. Ocean originally opened doors as Revel back in 2012. Ocean failed to meet that requirement every month between September and January. In his first interview since stepping in, Eric Matejevich told The Associated Press that the Boardwalk casino resort has been re-stocked with funds and now meets a requirement imposed by New Jersey gaming regulators to always have at least $36 million in available cash. Ocean Resort Casino has improved its performance since news about the change of ownership emerged in January, according to the divestiture trustee charged with overseeing the Atlantic City property while its new owner gets the necessary permit to take over. Ocean shows signs of improvement, new owner views the property as great casino with beautiful resort amenities
