The Ocean Casino Resort opened in June 2018, then known as the Ocean Resort Casino. In the beginning, the casino faces compliance issues regarding regulations as well as revenue problems. However, today, the casino has straightened itself out and has started to push to the forefront of Atlantic City’s gambling industry. For July, the brand was in the 2nd place regarding casino win in the region.
Big Win for Ocean
With July reports going public this week, it was reported that Ocean saw an increase in casino win for July. They earned $23.6 million. This puts them in the number two spot, just behind the Hard Rock AC which earned $24.5 million.
Ocean has seen growth at a time when casinos are struggling. The casinos in Atlantic City, like those around the world, were closed for quite some time due to the coronavirus outbreak. New Jersey casinos reopened in early July and can function at 25% capacity. They currently have prohibitions on indoor dining along with other restrictions.
Chief marketing officer and senior vice president for Ocean Casino Resort, Mike Donovan, commented that being number two in the win category for Atlantic City is something that he never thought would happen in his wildest dreams. He doesn’t think anyone else would have though that either.
Overall, the nine operating casinos in Atlantic City saw a nice month in July as operations resumed. For slot gaming, the casinos saw a total win of just over $111 million. While this is good after being closed for months, the total is a 42.2% drop from last July.
However, for Ocean, their slots were up year over year. The total win was up just over 23% while the slot revenue totals came in at $17.2 million which is an increase of 10.5% for the month when compared to 2019. For Ocean, July marks the ninth consecutive month of slot growth. Within a year, the casino has been able to see slot gaming increase by more than 50%.
Building The Online Sector
While the Ocean Casino is doing well in land-based gaming, they still need to improve with their online gaming options. In July, the operator earned $1.2 million with online gaming. This is a nice increase from July of last year but they are still last in the sector.
As a whole, the market hit a record win for July, coming in at $87.4 million. Ocean Casino has only a 1% share of the online market. That being said, Ocean is limited in their online offering. They have an app that is offered only via Android and it is still unknown when iOS users will have app access. Once iOS is in the mix, the brand should see an uptick in revenues.
For now, the Ocean Casino Resort can celebrate the achievement of earning a nice win in July and hopefully the trend will continue into September, October and the remainder of the year. If the casino can continue this flow, they will set themselves up for a successful 2021.