Ocean Casino Resort CEO Glebocki resigns (updated)

Terry Glebocki, the head of one of New Jersey’s two youngest casinos, resigned from her post at Ocean Casino Resort, the gambling outpost announced in the morning on Oct. 11.

She is also stepping down from her post as president of the Casino Association of New Jersey, a trade group for the state’s nine casinos – all of which are based in Atlantic City – according to a Monday statement that does not say who will succeed her.

It is not immediately clear why she is resigning, as CANJ and Ocean officials did not specify in their statements.

“The CANJ is very grateful to Terry for her service to the organization and thanks her for all her meaningful contributions to the industry,” the association said. “The trade organization wishes her all the best moving forward.”

Glebocki, who started as the chief executive officer at Ocean Casino Resort in late 2019, helped turn the casino around from a financial mess at the time. And, she managed to help keep it afloat during the worst of the COVID-19 casino closures and restrictions, making the resort one of Atlantic City’s top performers for the 19 months of the pandemic.

A LinkedIn message to Glebocki remains unanswered and Ocean officials said they would not provide follow-up statements.

“We thank Terry for her service as chief executive officer since 2019 and wish her well in her future endeavors,” reads the Monday statement from Ocean officials.

Before Glebocki stepped down, women led three of Atlantic City’s nine casinos, making her an outlier in the widely male-dominated position of casino executive.

She has more than three decades handling casino finances, most recently as Ocean’s chief financial officer before becoming its CEO. Before that, she handled finances at Tropicana and Trump Entertainment Resorts, and was the chief financial officer for Revel, the previous name of the casino resort in the building Ocean now occupies.

Revel opened in 2012 after a $261 million state tax break the year prior, on top of hundreds of millions of dollars in public and private financing.

But the casino was consistently in the red, and declared bankruptcy, then closing in 2014. The casino switched hands numerous times both before and after Revel.

Editor’s note: When this article was initially published it was not yet announced that Terry Glebocki would also step down from her role with the Casino Association of New Jersey; it was updated at 2:11 p.m. EST after that announcement was officially made.