Thursday, August 16, 2018

Ocean Resort Casino Installs New Logo to Distance from Revel’s Unfortunate Past

Casino News Daily
Ocean Resort Casino Installs New Logo to Distance from Revel’s Unfortunate Past

Ocean Resort Casino, one of the two new additions to Atlantic City’s legendary Boardwalk, has begun the installation of its new logo, The Press of Atlantic City reports. The new logo is set to be located on the south-facing side of the casino resort’s 57-story glazed building.

The first letter of the logo was installed late last week. The 42-foot-tall letters will be located under a 40-foot-tall spherical light.

The casino’s logo and the spherical light aim to distance the resort from its building’s previous occupant – the unfortunate Revel Casino Hotel, which closed doors after just over two years of operation without turning a profit. Revel used an illuminated orb to place its mark on the Atlantic City Boardwalk.

Ocean Resort Casino was one of two casino resorts to open doors on June 28, Hard Rock Hotel & Casino being the other one. The property was launched after Colorado-based businessman Bruce Deifik bought it from its previous owner, Florida real estate developer Glenn Straub. Mr. Straub planned to reopen Revel himself, but missed several self-imposed deadlines for the property’s reopening and eventually decided to dispose of it. Mr. Deifik paid $200 million for the former Revel and invested another $200 million to open it as Ocean Resort Casino.

Sports Betting in Atlantic City

Ocean was Atlantic City’s second casino resort to launch sports betting following the legalization of the activity in New Jersey in mid-June. The Borgata was the first Boardwalk property to begin accepting sports bets, and aside from the two casino resorts, the Monmouth Park racetrack in Oceanport, too, launched sports betting in June. The three properties took in revenue of $3,458,668 and handle of $16,409,619 in June.

Two more properties opened sports books in July – Bally’s AC and the Meadowlands Racetrack in East Rutherford. According to official data from the New Jersey Division of Gaming Enforcement, the five operational sports books generated gross gaming revenue of $7,289,808 and betting handle of $57,091,856 in the period between June 14, when the first betting operation was launched, and July 31.

In August, Resorts Casino Hotel in partnership with DraftKings launched New Jersey’s first Internet and mobile betting operation. The Boardwalk resort also held a ribbon-cutting ceremony for its physical sports book this past Wednesday. One more Atlantic City casino launched a sports book yesterday. Golden Nugget held an opening ceremony for its facility an hour earlier.

The two properties became the fifth and sixth Atlantic City casino resorts to commence sports betting operations following the mid-May annulment of the long-standing federal ban on the provision of this type of gambling activity. The city currently has nine operational casinos and it is anticipated that all of them will jump on the sports betting bandwagon.

It recently became known that Hard Rock has partnered major British bookmaker bet365 to jointly run a betting service as part of its brand-new Atlantic City property’s offering.

The post Ocean Resort Casino Installs New Logo to Distance from Revel’s Unfortunate Past appeared first on Casino News Daily.

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