The Ocean Resort Casino. – AARON HOUSTON
Ocean Casino Resort announced it would hire Terry Glebocki as its chief executive officer, making her the only current female CEO at any of Atlantic City’s nine casinos.
“It’s a very exciting time to be [at] the helm of the property. I look forward to working with the management team and all our team members to continue to meet property goals,” Glebocki said in the Tuesday morning announcement.
“We have many announcements planned for 2020,” continued Glebocki, who has three decades of financial management, including a post as Ocean’s chief financial officer.
Ocean, which opened in June 2018, has hit arguably difficult times following lackluster performance. In January, Luxor Capital bought Ocean from its previous owner Bruce Deifik following financial issues on his end with the casino. Last week, Ocean announced it will no longer be operated as a Hyatt-affiliated hotel or within The Unbound Collection by Hyatt brand effective Jan. 1, 2020.
The latest data from the Division of Gaming Enforcement, which regulates the state’s casino and gambling industry, shows that the third quarter of 2019 comprised Ocean’s strongest financial performance. For the quarter, Ocean reported $10.2 in gross operating profit and $79.9 million in net revenue.
“In the third quarter, the property set records for revenues, hotel occupancy and profits,” reads the Tuesday announcement. “October was Ocean’s fourth consecutive month of double-digit growth.”
Editor’s note: A previous version of this story indicated that Terry Glebocki would be the first female chief executive officer at an Atlantic City casino. Glebocki will be the only current CEO in the resort town, however, Audrey Oswell was the first chief executive in Atlantic City, leading Resorts from 2002 to 2006.
