Ocean Resorts Get Gaming License One Week Before Official Opening

The new developer of the mega-failed Revel Resort in Atlantic City has been granted a gaming license just one week before the scheduled opened of the resort.

The new name for the resort is the Ocean Resort Casino under the ownership of Bruce Deifik, who bought the casino for $200 million in January 2018 convinced gaming regulators that the new resort will be a success and will have learnt from the mistakes of the grand failure of the Revel which cost $2.4 billion to build and only lasted two years before collapsing into bankruptcy and closing in September 2014.

The regulator was convinced by the ideas and argument the new CEO of Ocean Resorts Frank Leone gave in saying, “If you’re someone betting $5 or $10, how often does someone come up to you, shake your hand, ask how your day is coming and ask if there’s anything you need?” “We are going to ensure that customers who don’t get personal attention at other properties get personal attention here.”

Leone said Revel deviated from casino industry best practices in many important ways, including meager or non-existent comps and discount offers. He said a player who lost $10,000 gambling at Caesars might get as much as $4,000 of that back through comps or incentives to return to the property. That same customer at Revel not only lost $10,000, but was handed a $1,000 bill for hotel and food and beverage charges, Leone said.

“It’s simple economics,” he said. “Milk is $3 a gallon. You can’t sell it for $5.40 a gallon when everyone else is charging $3.”