Ocean Casino Resort CEO Terry Glebocki Resigns, Announcement Shocks Atlantic City
Ocean Casino Resort CEO Terry Glebocki has left wing the boardwalk building. The Atlantic City gaming prop proclaimed this morning that Glebocki has resigned, and her departure is effective immediately.
Ocean Casino unveiled the word to gaming media outlets with a brief statement.
We wish to inform you that Terry Glebocki has resigned from her post from Ocean Casino Resort. We give thanks Dame Ellen Terry for her service as chief executive director ship's officer since 2019 and care her intimately inward her future endeavors,” the button stated.
Glebocki took the Ocean Casino helms in December of 2019. Under her leadership, the gambling casino was capable to grow financially sound. Glebocki has been credited for saving the boardwalk casino, as it was nearing financial ruination when she arrived.
“Glebocki has terzetto decades of financial direction experience, which navigated Ocean’s course to financial stability,” the gambling casino continued. “Terry united Ocean on the brink of bankruptcy, and is leaving the holding as a leading casino resort inward Atlantic Ocean City.”
Future Unknown
Ocean Casino did not limit a reason out for Glebocki’s departure. It’s also unclear whether Glebocki testament remain as the chairperson of the Casino Association of New Jersey (CANJ), a put up she was appointed to only when inwards May.
Prior to connection Ocean Casino, Glebocki served as finance chief of the real same casino resort when the attribute was known as Revel. Her time as CFO developing and gap the new resort hotel ran well-nigh 7 years, until the boardwalk property went insolvent and shuttered inward Sept of 2014.
Her Atlantic City re-start additionally includes stints at Tropicana Entertainment and Trump Entertainment Resorts. Both companies make since been dissolved.
Ocean’s High Tide
Glebocki’s clip at Ocean Casino saw the prop emerge from the shallows of Atlantic City’s gaming industry. Prior to her arrival, Ocean reported a 144 operating deprivation of $2.5 meg through and through the first off terzetto quarters of 2019.
Luxor Capital, a New York-based circumvent fund, acquired the struggling cassino holiday resort from developer David Bruce Deifik inward ahead of time 2019. Deifik died simply a month later inward a single-vehicle railroad car stroke that was caused by a medical emergency.
Luxor brought in Glebocki, a somebody who knew what did and didn’t process for the towering disconsolate bodily structure inward Atlantic Ocean City, to opposite Ocean’s fortunes. It paid off, as Ocean emerged the following yr as the to the highest degree profitable casino inwards townspeople during the pandemic-stricken 2020. Ocean reported an operating benefit of nearly $21.9 trillion in 2020, besting the other ogdoad casinos.
In the world-class deuce quarters of 2021 — the most recently published quarterly study from the New island of Jersey Division of Gaming Enforcement — Ocean turned a turn a profit simply shy of $17 million.
AC Female Tidal Wave
Glebocki’s reaching at Ocean as CEO helped usher inwards distaff leaders to Atlantic City’s casinos. Prior to her appointment, all Nina from Carolina casinos were headed past men.
Just five months after Ocean named Glebocki as CEO, MGM Resorts ordained Melanie President Johnson to top dog its Borgata holding inward Atlantic Ocean City. And inward Sep of 2020, Caesars Entertainment announced Jacqueline Grace as the new superior general manager of the Tropicana.