Ocean Resort Casino, located in Atlantic City, has been a topic of discussion since its opening in June of 2018. Many people have been wondering whether this new establishment is just the old Revel Casino with a new name. In this article, we will explore the similarities and differences between the two casinos to determine whether Ocean Resort is indeed the old Revel.
History of Revel Casino
The Revel Casino originally opened in April of 2012. Costing $2.4 billion to build, it was meant to be a luxurious resort that would attract high-end customers.
However, just two years after its opening, it filed for bankruptcy due to a lack of profitability. The casino was then sold to Brookfield Asset Management for $110 million in 2015.
The Closure and Sale of Revel
After Brookfield Asset Management’s acquisition of Revel in 2015, it renamed the casino as TEN (short for “The Enlightened Network”). However, TEN never opened its doors as it failed to obtain a gaming license from the New Jersey Casino Control Commission.
In January 2018, AC Ocean Walk LLC acquired TEN for $200 million and renamed it Ocean Resort Casino.
Similarities Between Ocean Resort and Revel
One similarity between Ocean Resort and Revel is their location – both casinos are situated on the Atlantic City boardwalk. Additionally, some parts of Ocean Resort’s exterior design are reminiscent of the old Revel building.
Design Elements
Both casinos were designed by the same architect – Bruce Deifik. As a result, there are similarities between their interior design elements such as lighting fixtures and furniture pieces.
Casino Layout
The layout of the casino floor also seems similar between both establishments with rows upon rows of slot machines dominating much of the space.
Differences Between Ocean Resort and Revel
Despite the similarities mentioned above, there are several differences between the two casinos.
Ownership
The most significant difference between Ocean Resort and Revel is their ownership. AC Ocean Walk LLC owns Ocean Resort, while Revel was previously owned by Brookfield Asset Management.
Management Team
Ocean Resort has a new management team led by CEO Frank Leone and CMO Mike Donovan. In contrast, Revel had a different management team that oversaw its operations.
Marketing Strategy
Ocean Resort’s marketing strategy differs from that of Revel’s as well. They have focused on attracting a wider audience through various events such as concerts, comedy shows, and sports betting options.
Conclusion
In conclusion, although there are some similarities between Ocean Resort and Revel, it is evident that they are two entirely different casinos. While both establishments were designed by the same architect, their ownership, management, and marketing strategies differ significantly. Therefore it can be concluded that Ocean Resort is not just the old Revel with a new name but a new establishment with its unique features.