Ocean Casino Resort CEO Terry Glebocki Resigns, Announcement Shocks Atlantic City
Ocean Casino Resort CEO Dame Alice Ellen Terry Glebocki has left hand the Boardwalk building. The Atlantic City gaming holding proclaimed this morn that Glebocki has resigned, and her leaving is in force(p) immediately.
Ocean Casino unveiled the intelligence to gaming media outlets with a legal brief statement.
We wish to inform you that Dame Alice Ellen Terry Glebocki has resigned from her place from Ocean Casino Resort. We give thanks Dame Ellen Terry for her table service as chief executive ship's officer since 2019 and wishing her considerably inwards 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 twist financially sound. Glebocki has been credited for saving the Boardwalk casino, as it was nearing financial ruination when she arrived.
“Glebocki has tercet decades of financial management experience, which navigated Ocean’s class to financial stability,” the casino continued. “Terry joined Ocean on the threshold of bankruptcy and is leaving the holding as a leading gambling casino resort in Atlantic Ocean City.”
Future Unknown
Ocean Casino did non determine a understanding for Glebocki’s departure. It’s also unclear whether Glebocki will remain as the chairman of the Casino Association of New island of Jersey (CANJ), a put up she was appointed to only inward May.
Prior to joining Ocean Casino, Glebocki served as finance chief of the really same gambling casino resort when the holding was known as Revel. Her time as CFO underdeveloped and curtain raising the new resort ran nearly heptad years until the Boardwalk holding went smash and shuttered inwards Sept of 2014.
Her Atlantic City take up additionally includes stints at Tropicana Entertainment and Trump Entertainment Resorts. Both companies feature since been dissolved.
Ocean’s High Tide
Glebocki’s time at Ocean Casino saw the holding emerge from the shallows of Atlantic Ocean City’s gaming industry. Prior to her arrival, Ocean reported a revenue operating red of $2.5 gazillion through the first of all threesome quarters of 2019.
Luxor Capital, a New York-based sidestep fund, acquired the struggling gambling casino resort from developer David Bruce Deifik in too soon 2019. Deifik died simply a month later inward a single-vehicle car fortuity that was caused past a medical emergency.
Luxor brought inward Glebocki, a soul who knew what did and didn’t act for the towering blueish construction in Atlantic City, to reversal Ocean’s fortunes. It paid off, as Ocean emerged the next year as the to the highest degree profitable casino inward townsfolk during the pandemic-stricken 2020. Ocean reported an operating benefit of nearly $21.9 trillion in 2020, besting the other octonary casinos.
In the first-class honours degree deuce quarters of 2021 — the most latterly published quarterly write up from the New Jersey Division of Gaming Enforcement — Ocean turned a benefit just now shy of $17 million.
AC Female Tidal Wave
Glebocki’s arrival at Ocean as CEO helped show inward female person leadership to Atlantic City’s casinos. Prior to her appointment, all ennead casinos were headed past men.
Just five months after Ocean named Glebocki as CEO, MGM Resorts decreed Melanie Dr. Johnson to head its Borgata prop in Atlantic Ocean City. And inwards September of 2020, Caesars Entertainment proclaimed Jacqueline Grace as the new general manager of the Tropicana.