It was the only Atlantic City casino not to post an earnings decline in the first nine months of 2020. It ranked sixth out of Atlantic City's nine casinos in terms of total gambling revenue, but third in terms of revenue from in-person gambling at its physical facility.įor the first nine months of 2020, the most recent statistics available, Ocean posted a gross operating profit of more than $12 million, compared with a $2.5 million loss in the same period a year earlier. But Atlantic City's casinos were closed for 3 1/2 months last year because of the coronavirus pandemic and continue to operate under restricted capacity limits. Luxor said it would not discuss details of the partnership, including any impact on day-to-day operations of the casino-hotel, until it gets deeper into the regulatory process with New Jersey authorities.įor all of 2020, the casino's gambling revenue was over $214 million a decline of more than 10% from a year earlier. At that hearing, Michael Conboy, a partner in the hedge fund, told regulators the company planned to own and operate the casino for at least the next 25 years. 64-year-old Bruce Deifik, who once owned Atlantic City’s Ocean Resort Casino, died late Sunday in a Denver, Colorado car crash, with reports that he may have suffered a coronary incident.
In May 2020, New Jersey regulators gave Luxor final approval to own and operate the casino.
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