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Who owns ocean casino in ac11/14/2023 ![]() ![]() 1 casino in Atlantic City,” he told the Associated Press. Our goal in the next few years is to become the No. “We have the best product and team members in the market. Soon thereafter, the Illitch Group, which owns the MotorCity Casino in Detroit, bought 50 percent of the property. When Callahan was appointed general manager after an interim period, he, along with a talented and insightful executive team, identified many areas that could be improved, and things immediately began to pick up. The chief lender, New York hedge fund Luxor Capital (no relation to the Las Vegas hotel of the same name) stepped in and revamped management and things began to turn around. A diversion to the quirky owner Glenn Straub did not help and an eventual sale to Bruce Deifik didn’t work. Granted it had a lot to overcome from its initial opening as Revel where smoking was banned, comps were hard to come by, and the wayfinding on the property was a mess. When Ocean first reopened, it had to claim a spot in the Atlantic City marketplace. “More than 95 percent of our database had a value of $100 or less” says Callahan. Those holes started with the player database.” “Yes, it had been getting better,” he says, “but there were still lots of holes in the operation that needed to be closed. When Bill Callahan took over at Ocean Casino Resort after 17 years at Borgata, he found a property mired in last place when it comes to the monthly New Jersey revenue reports.
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