Ocean Resorts rebrands, Atlantic City rakes in the cash

Ocean Resorts
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The property formerly known as Revel and Ten is also now to be formerly known as Ocean Resorts after owners decided that yet another rebrand was the key to actually making money for a change.

 

Ocean Casino Resort as it is now to be known has gone through a great deal of tumult in its relatively short lifespan with closures, reopenings and failed sales casting a shadow on the sprawling property.

Since its latest reopening last year the resort has dwelled almost exclusively at the foot of the city’s revenue tables serving to highlight that if you build it they may not always come.

Owners have seemingly decided that this was due to the fact that the word casino was missing from its official moniker and hope that this new titular addition will help drive gaming traffic.

If such does come to fruition there is money to be made in a market currently on a hot streak. The month gone saw overall gaming revenues increase by a sizable 15.7 percent to reach $223.2m – table games were up 8.7 percent to $60.5m whilst slot takings grew by 18.5 percent to $162.6m.

The positive total revenue figures also represent a marked uptick on February’s $196.7m as players start to flock to the east coast with the subsiding of its bitter winter.

Results are tempered somewhat however by the fact that all but two operations posted year-on losses with Caesars (4.3 percent) and Resorts Casino (0.6 percent) on the positive side of the fence.


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