Ocean Casino Bets $50M on Renovations Amid Atlantic City Profit Slump
This Is the Last Stage of a $270 Million, Seven-Year Project
Adapt & Survive?
This Monday, Ocean Casino Resort made a big splash with the announcement of a $50 million renovation campaign. However, this major overhaul has raised some questions after betting casinos in Atlantic City saw a 9.3% profit drop in 2024.
Local industry watchers note that Ocean Casino Resort’s move comes at a pivotal moment. Atlantic City has been grappling with rising operational costs and increasingly vocal guests, according to Casino.org feedback.
The area used to thrive on the thrill of playing blackjack for real money on the Boardwalk, but the rise of the online casino market ($2.39 billion in New Jersey last year) has forced brick-and-mortar venues to adapt or risk folding.
Inside the $50 Million Renovation
The biggest chunk of Ocean’s budget is going towards 559 guest rooms, the final stage of a $270 million, 7-year transformation that started with the property’s rebranding back in 2018 (formerly Revel).
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Along with that, Ocean is introducing 5 new dining concepts. Heading the lineup are collaborations with celebrity chef Stephen Starr and LaScala’s Fire, an Italian-American eatery that fits into the city’s push for more diverse dining options.
The most notable part is the doubling of the resort’s Asian gaming space, which will go from 4,000 to 8,000 square feet. This new area will have 32 gaming tables for Pai Gow Poker and Mini Baccarat.
Though Asians make up only about 6% of New Jersey’s population, they account for roughly 30% of table-game revenue. For example, Wynn Las Vegas dedicates up to 20% of floor space to this demographic and so far the strategy has proven to boost revenue.
Atlantic City’s Downward Slide
Atlantic City has long been a hub for cash casino action on the East Coast. However, recent casino news reveal a different reality.
Gross operating profits for the city’s nine casinos tumbled from $744.7 million in 2023 to $675 million in 2024. This was due, in part, to competition from legit gambling sites. Reports show that more players have turned to mobile gambling apps for better odds and convenience. In February 2025, iGaming revenue raked in $207.8 million.
Ocean Casino Resort is not immune to these issues. Despite outperforming a few of their competitors, they still saw a 13.6% decline in annual profits.
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Critics counter that lavish upgrades do not necessarily address fundamental shifts in consumer behavior. Under current gambling regulations, iGaming platforms enjoy lower overhead and draw customers with 24/7 convenience.
Moreover, visitor dissatisfaction persists over steep resort fees (22% higher since 2022, according to recent reports) and reduced comps on the casino floor.
Does the $50 Million Bet Pay Off?
Ocean Casino Resort’s approach is part of a bigger trend among Atlantic City operators to revamp their land-based properties.
If Ocean gets their upgraded amenities right with fair odds, value pricing, and targeted marketing these renovations could pay off. For example, Mohegan Sun saw a 19% revenue increase after they opened their Asian gaming space.
Still, critics question the ROI of such an expensive makeover. With more bettors moving to online gambling, physical additions alone may not be enough. For Ocean, it will be all about getting the formula right to see if this all-in can turn around Atlantic City’s downward trend…but we wouldn’t bet on it!
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