The owners of Atlantic City’s Ocean Casino Resort have tapped former Borgata executive Bill Callahan as its first general manager. The title represents the top post at the property, replacing CEO.
Callahan joined Ocean in July 2020 as senior vice president of hospitality and a year later received a promotion to executive vice president of hospitality and gaming. Last November, Callahan again got a promotion to interim CEO right after New Jersey regulators approved a deal to sell half interest to the Ilitch family. The family owns the Detroit Tigers and Red Wings as well as Little Caesars pizza and a casino in Detroit.
The casino is co-owned by New York hedge fund Luxor Capital Group.
“Bill is a 25-year veteran of the gaming industry who has done a great job since joining the team at Ocean,” said Bruce Dall, president of OCRM, LLC, a new company which owns Ocean. “He has been an integral part of enhancing the guest experience across the property, while helping to build the best hospitality team in the market.”
In terms of overall gambling revenue, Ocean ranks fourth in Atlantic City
While pleased with that success, Callahan has his sights set higher.
“Our ultimate goal in the next few years is to become the No. 1 casino in the market,” he told The Associated Press. “This property is still in its infancy; there’s so much more that it can grow.”
That would entail leapfrogging competitors including Hard Rock, Tropicana and the perennial market leader, Borgata.
“This is a $2.5 billion asset, and it was being run like a $110 million property,” Callahan said. “When we got here, the place was like, ‘How do we not spend money and just get through and not close?’”
In-person gambling revenue increased from $215 million in 2019 to $306 million last year. Only Hard Rock increased its in-person revenue over that time frame, from $324 million to $431 million.
Ocean plans to open 463 hotel rooms and suites on upper floors that were never completed, and a redone sportsbook this year to follow up on $15 million worth of recent investments in and around the casino floor.
