Atlantic City’s Ocean Resort Casino (ORC) has been sold to an as-yet unidentified buyer just six months after the property (re)opened.
On Wednesday, rumors swirled that ORC owner AC Ocean Walk LLC, which is majority-owned by Colorado developer Bruce Deifik, was on the market, despite Deifik having only acquired the property 12 months ago and the property having just opened its doors six months ago.
On Thursday, news broke that the rumors were true, although we may have to wait a while longer to discover the identity of ORC’s mystery shopper and how much they paid. Deifik paid $200m when he acquired the then-shuttered Revel in January 2018.
The new owner(s) reportedly plan to inject an additional $70m into ORC, which appears to have struggled to attract a sufficient volume of guests and gamblers to make its operations sustainable in the long run. The Associated Press reported that the $70m will fund a new buffet, additional hotel suites, gaming floor improvements and more entertainment options.