ATLANTIC CITY, N.J.
“Where we are today versus where we were is truly night and day,” added Terry Glebocki, Ocean’s CEO.
“Ocean and Hard Rock have the best coexistence without stepping in each other’s lanes,” said Cortney Conklin of Galloway, a frequent visitor to both places.
Both casinos were reborn out of failure — and none was more spectacular than Ocean’s predecessor, Revel.
But Deifik quickly ran out of money, and a New York hedge fund, Luxor Capital Group, that had lent him millions took over the property in return for canceling the debt.
Luxor gave Glebocki straightforward marching orders: Reverse the current financial situation, in which the casino was spending too much money and not bringing enough in.
The company gutted the building from top to bottom, and imported planeloads of its trademark music memorabilia from a collection that is the world’s largest.
Hard Rock won $224.8 million from in-person gamblers in 2020, second only to the Borgata, which won more than $100 million more.