The Ocean Resort in Atlantic City is one of the most popular and luxurious resorts in the city. But have you ever wondered who owns this beautiful property? In this article, we’ll take a closer look at the ownership of Ocean Resort.
Background of Ocean Resort
Before diving into the ownership details, let’s first take a brief look at the history of this resort. The Ocean Resort was opened in 2018 after extensive renovations to what was once known as Revel Casino Hotel. The property is located on the Atlantic City Boardwalk and boasts an impressive 1,399 rooms and suites, along with a casino, spa, multiple restaurants, and other amenities.
The Owner of Ocean Resort
The current owner of Ocean Resort is AC Ocean Walk LLC, which is a subsidiary of Integrated Properties Inc. Integrated Properties Inc. is a real estate development company that specializes in various projects such as hotels and residential properties.
The Previous Owners
Before AC Ocean Walk LLC took over ownership of the resort, it had gone through multiple owners. Revel Casino Hotel was initially opened in 2012 by Revel Entertainment Group LLC. However, due to financial struggles, it filed for bankruptcy twice before finally closing its doors in 2014.
Following Revel’s closure, Glenn Straub bought the property for $82 million but failed to reopen it despite several attempts. Straub then sold the resort to AC Ocean Walk LLC for $200 million in early 2018.
Conclusion
In conclusion, AC Ocean Walk LLC is currently the owner of Ocean Resort in Atlantic City. It’s worth noting that despite going through various ownership changes over the years, the resort has remained one of the top destinations for tourists visiting Atlantic City. Whether you’re planning a weekend getaway or looking to try your luck at the casino tables – this stunning property has something for everyone!
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