The trade group representing New Jersey’s nine casinos tapped Ocean Casino Resort Chief Executive Officer Terry Glebocki as its new president, at a time when the gambling sector is hammered by the 13-month pandemic.
Her new appointment to the group – the Casino Association of New Jersey – was effective as of April 14, according to a spokesperson.
She replaces the prior president, Steve Callender, who is stepping down from his role as regional president at Caesars Entertainment, which owns three casinos in the state.
“I am thrilled to lead the CANJ forward as we work to help Atlantic City and the region recover from this devastating pandemic and continue the ongoing revitalization of this world-class destination resort,” said Glebocki, who’s headed Ocean Resort Casino since 2019.
Glebocki is the first female president of CANJ and CEO of Ocean Casino Resort. She has three decades of financial management experience, including serving as chief financial officer of Ocean Casino Resort and Tropicana Entertainment Inc.
Women currently lead three of Atlantic City’s nine properties, and Glebocki taking on this key leadership role with CANJ is yet another signal that the industry is changing.
Casino revenue tanked by more than 80% in 2020 due to capacity and in-person COVID-19 restrictions, and the months last spring and summer when many had to shutter their brick and mortar operations, according to data released last week by state gaming regulators.
The April 9 report from the New Jersey Division of Gaming Enforcement showed that gross profits for the state’s nine casinos were nearly $594 million in 2019, before dropping by 80% to $117 million in 2020.
Any growth last year was driven almost exclusively through online sports betting and gambling, which served as a lifeline for casinos when their doors were closed.
With casinos being the largest employers in Atlantic City, the region’s unemployment soared to a record-high 33.8% in April last year, the highest in the state.