Atlantic City’s Ocean Casino Resort debuted The Cove, a new high-limit slot area, on Monday as the latest addition to its growing property.
The new high limit slots experience is among a series of updates planned for Ocean Casino Resort as it looks to establish itself as a major player in the Atlantic City casino market after a rocky start.
The Cove is home to over 140 online slot machines from leading providers IGT, Konami, Scientific Games, Aristocrat, Everi and Ainsworth. The devices offer a mix of classic hits and new games, including Wheel of Fortune, Jeopardy, Lightning Cash, Dollar Storm, Dragon Cash, and more.
The new high-limit slot area occupies 7,450 square feet of space right next to Wahlburgers. In addition to its wide selection of high limit slot machines, The Cove also offers a Dedicated cocktail service, private baths, and an exclusive room for customers who play in the new section.
Introducing The Cove, Ocean Casino Resort’s exciting high limit slot experience featuring over 140 slots in our all-new gaming space! 🎰✨
Visit https://t.co/K3heHaOIdt to learn more. pic.twitter.com/ka56ODmgvT
– Ocean Casino Resort (@TheOceanAC) December 28, 2020
Ocean Casino Resort construction began at The Cove in early November. As mentioned above, it is part of a plethora of new experiences that the Boardwalk hotel-casino complex seeks to introduce in an attempt to shed a troubled past and maintain a market share that will allow it to comfortably execute all of its refinement plans.
A difficult start
Too many times in the past, Ocean Casino Resort was led to total or near complete disaster. The property’s predecessor, Revel Casino Hotel, closed its doors in the fall of 2014 after just over two years of operation, as it never made a profit in the troubled Atlantic City casino market.
Revel was purchased by the late Colorado developer Bruce Deifik in early 2018 and reopened as Ocean Resort Casino in the summer of that year. However, during the brief seven months under the direction of Mr. Deifik and his team, Ocean lost more than $ 23 million and it struggled with compliance issues stemming from the fact that it did not have the required minimum funds available.
These problems forced a change of ownership in early 2019. The property was sold to Luxor Capital Group. The New York-based hedge fund quickly changed the name from Ocean Resort Casino to Ocean Casino Resort to indicate a change in its operational direction and a newly established emphasis on its casino operations.
The new Luxor formula has apparently worked for the casino-hotel resort. The property, which is now being managed by the CEO Terry glebocki, posted a nearly 50% increase in gaming revenue in 2019 to become the fastest growing casino in Atlantic City.
The momentum continued in 2020Although all nine Boardwalk casinos were forced to remain closed for nearly four months as part of measures introduced by New Jersey lawmakers as the state struggled to contain the spread of Covid-19.
In July, when the casinos were allowed to resume operations, Ocean’s gaming revenue increased 23.1% year-on-year, despite operating at a limited capacity. Much of that revenue growth was attributed to a 10.2% increase in slot revenue.
The demand for slot machine action could be an indication that Ocean’s new high-limit slot space could be a step in the right direction and help the property maintain its growth momentum.