ATLANTIC CITY, N.J. (AP) — A perennially challenged Atlantic City casino says it will finally turn a profit after months in the red.
The Ocean Casino Resort says it has greatly reduced its debt and will return to profitability in May.
A new marketing plan and more deals for customers have helped increase slot revenue and hotel occupancy. New elevators, slot machines and dining options are coming soon, and it plans to add 500 hotel rooms to its current inventory of about 1,400.
Once known as Revel before it closed in 2014, the casino reopened last June and began losing money a few months later. By January, New York hedge fund Luxor Capital agreed to take it over from Colorado developer Bruce Deifik (DIE’-fick).
Deifik died in a car crash last month.