More Details on Terry Glebocki’s Resignation are Coming Out

Ocean Resort Casino Atlantic City With Terry Glebocki

Ocean Casino Resort in Atlantic City has quickly become one of the most popular gambling venues in the city. Interestingly, the property’s CEO, Terry Gebocki has recently been removed from her role. More details on Terry Glebocki’s resignation are now beginning to surface.

Many have been surprised to see Glebocki removed as CEO. She is widely credited with helping to turn Ocean Casino around at a time when it struggled to bring in revenue.

Here’s a look at why this change in leadership has been ordered.

Terry Glebocki’s Resignation Has Been Confirmed

Atlantic City is home to many of the biggest and best casinos in the United States. Back in 2012, a new venue called Ocean Casino-Resort opened its doors in the city. This property, located in the northern area of the Atlantic City Boardwalk, initially struggled to bring in players and its revenue figures remained low.

This venue’s ownership changed hands several times over the past decade. While on the brink of bankruptcy in 2019, Terry Glebocki took over as CEO. Her decades of experience in the gaming industry came in handy, as she immediately helped this casino to turn things around.

Interestingly, Terry Glebocki’s resignation has been confirmed. The casino did not give an official reason for her departure. Instead, they released a statement discussing the impact Terry had on the venue during her years as CEO.

“Glebocki has three decades of financial management experience, which navigated Ocean’s course to financial stability,” the casino said in a statement. “Terry joined Ocean on the brink of bankruptcy, and is leaving the property as a leading casino resort in Atlantic City… We are working through this transition and will provide updates as they become available.”

It’s unclear who exactly will take over as CEO of this casino. Hope is that it’s another qualified individual that can continue to increase Ocean Casino’s visitation and revenue figures. Stay tuned for updates!

New Jersey’s Sports Betting Industry Continues to Impress

The state of New Jersey is largely responsible for helping to grow the US sports betting industry. Lawmakers here helped to pressure the US Supreme Court to finally remove PASPA in 2018. Shortly afterward, New Jersey formally launched its regulated sports betting options.

This industry has grown considerably since that time. New Jersey is now home to the largest sports betting industry in the entire United States. The sports gambling operators here have been setting new records throughout the entire year.

This past August, the state’s sports betting revenue figures actually dropped by 5%. Interestingly, the state’s handle grew by 15%. The Meadowlands Sportsbook, operated by FanDuel, managed to bring in the most revenue at $26.9 million.

Fortunately, September is expected to bring about a major turnaround. The start of the 2021/2022 NFL season has already resulted in a massive surge of revenue around the country. Tens of millions of football wagers have already been made in New Jersey and September’s revenue figures are expected to break all-time records.

Casino revenue is expected to continue to increase here over the next few months, as well. We’ll be sure to continue reporting on revenue figures in this city as the year goes on.

Las Vegas Casinos Continue to Change Ownership Hands

Atlantic City has been working hard to improve its casino industry in recent years. Not long ago, the city’s entire gambling industry seemed to be on the brink of collapse. The pandemic put some major strain on this industry once again, yet things turned around in 2021.

There is still no doubt that Las Vegas remains the biggest and most profitable casino hub in the United States. Like Atlantic City, this city has experienced a major comeback throughout 2021. Some major changes have been taking place here in recent months.

MGM Resorts International broke the news that it had agreed to purchase The Cosmopolitan for more than $1 billion. The company’s CEO, Bill Hornbuckle, also expressed support for Nevada to legalize online casinos soon. That is a major change from the company’s stance just a few years ago.

Reports also surfaced claiming a proposed casino next to the Las Vegas airport has gained further approval. This property is currently planned to open in 2024. Several government employees are raising concerns about the danger it poses to the airport, though.

What do you think about Terry Glebocki’s resignation? How do you think Atlantic City will fare in the coming years? Let us know in the comments section below.

Terry Glebocki is Named CEO Of Atlantic City’s Ocean Resort

Atlantic City’s casino industry is thriving right now. The majority of gambling venues in the city are experiencing revenue increases almost every single month. This week, Atlantic City’s Ocean Resort officially hired Terry Glebocki as its new CEO.Ocean Resort Sign

It’s a huge move for this casino operator. It’s now one of the few major gambling companies in the US with a woman as its leader. Let’s look at what led to this decision.

Gambling Revenue Continues to Surge in Atlantic City

We’ve reported on the surge in gambling revenue in Atlantic City for years. Throughout almost all of 2019, casinos in this city have seen their earnings increase. Much of this can be attributed to the legalization of sports betting.

New Jersey was instrumental in getting the Supreme Court to strike down PASPA. Almost immediately afterward, lawmakers in this state began allowing sports gambling to take place. Every casino in Atlantic City now operates a land-based and online sportsbook.

The ability to place sports wagers is attracting a huge number of gamblers to Atlantic City. It’s helped to boost casino revenue, too.

Recently, the state’s gambling commission released the quarter-three revenue earnings. Incredibly, gross profit over these three months increased by an astounding 12.5%. The nine casinos in Atlantic City generated $928.9 million over this quarter.

Things aren’t slowing down here. Even during the winter months, Atlantic City is bringing in a huge number of gamblers.

Atlantic City’s Ocean Resort Hires Terry Glebocki as CEO

It’s well-known that the vast majority of leaders in the US casino industry are men. This week, however, Atlantic City’s Ocean Resort officially hired Terry Glebocki as its new CEO. Glebocki has years of experience in the industry and is an exciting new addition to Ocean Resort’s company.

Interestingly, Terry has served in an interim position since August. Initially, it was unclear whether or not she would maintain that position in years to come. It seems that the company enjoys her leadership style and has decided to make Glebocki the official CEO.

The new CEO commented on the news to the media this week.

“I’m so excited about this,” she said. “I like to think that I’m qualified for this job, whether I’m a man or a woman. But I do think I bring a different perspective to things. I like when there’s diversity in the team.”

Over the years, Terry Glebocki has worked for both Tropicana Entertainment and Trump Entertainment Resorts. She also served as CFO of Revel, which Ocean Resort eventually took control of. As a former accountant, Terry feels confident in her ability to control the casino-resort’s finances.

“I’m a detail-oriented person,” she said. “I look just as closely at a $1,000 expenditure as I do at a $1 million expenditure.” 

Hope is that the company’s new CEO can help to improve things over the next decade.

Ocean Resort Begins to See Revenue Increases

For months, Atlantic City’s Ocean Resort was one of the lowest-earning gambling venues in Atlantic City. Its location in the North Beach area of the city made it slightly less desirable than other casinos here. Recently, however, Ocean Resort has been generating more revenue than several of its competitors.

This was certainly the case in October. Reports from the NJ Gambling Commission show that Ocean Resort generated $18,427,671 that month. In terms of slot revenue, it was one of the city’s top earners.

It’s fantastic news for this resort, which at one point looked to be on the brink of collapse. Even the casino’s sportsbook is managing to generate impressive revenue figures.

Many are excited to see how Terry Glebocki’s role as CEO affects the casino-resort. Her years of experience in the casino industry should help to make things even better. Perhaps in time, Ocean Resort will be seen as one of the best venues in New Jersey.

Stay tuned for more Atlantic City gambling news over the next few months!