Terry Glebocki, CEO of Ocean Casino Resort, shares her knowledge and expertise with Casino Life. By: Damien Connelly
Forged in the fire of competitive survival and turnaround success, the management at Ocean Casino Resort are fully versed in overcoming challenges. Luxor Capital Group, a New York based investment management firm, acquired the property in 2019. As noted recently by Mike Conboy, a partner at Luxor Capital, “In 2019, Ocean Casino Resort was the fastest-growing casino in Atlantic City.” Luxor Capital gained its full license to operate Ocean Casino Resort in May 2020. Since it acquired Ocean Casino Resort, Luxor Capital has seen its expectations exceeded.
Atlantic City is a very competitive jurisdiction for casino resorts, having nine resorts operating within three square miles of each other – six on the Boardwalk and three in the Marina District. What’s great from a business perspective is that some resorts do ‘co-opetition’ = cooperative competition, whereby the resorts work with others to help grow Atlantic City’s total market metrics. Atlantic City is a mostly locals and regionals market, with some destination elements underpinning its tourist and MICE offerings.
The most recent new-build casino resort to be added to Atlantic City’s skyline – touted as the tallest building in the city with its 57 stories topping out at 710 feet (220m) – is Ocean Casino Resort. The resort had teething challenges during its first incarnation as Revel – and in truth, some of those challenges remain to be overcome. In today’s climate, what operator doesn’t face challenges? The knowledge and expertise of Terry Glebocki and her management teamin making a success of a challenged resort property may help you see opportunities to survive and thrive given the challenges we all currently face.
Third quarter 2020 (3Q20) industry statistics emphasize the strength of Ocean Casino Resort’s human capital. Casino resorts operate in a service driven industry – whether it is on-ground, online, or omnichannel. Experienced and customer-focused human capital make the difference between average and great. The most recent quarterly numbers speak for themselves.
Thank you for sharing your time with Casino Life and our readers, Terry. How has your career path brought you to being the CEO of Ocean Casino Resort?
I’ve been in the Atlantic City casino industry for over 30 years in progressive financial leadership roles including Trump Entertainment’s senior vice president of finance, Revel’s chief financial officer and Tropicana Entertainment’s corporate CFO.
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Ocean Casino Resort Lights The Way To A New Day was first seen on Casino Life Magazine