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Ocean On line casino Lodge CEO Terry Glebocki Resigns, Announcement Shocks Atlantic Town

Posted on: October 11, 2021, 11:47h. 
Closing up to date on: October 11, 2021, 01:36h.

Devin O’Connor Learn Extra

Ocean On line casino Lodge CEO Terry Glebocki has left the boardwalk construction. The Atlantic Town gaming assets introduced this morning that Glebocki has resigned, and her departure is valuable instantly.

Terry Glebocki is not the executive govt of Ocean On line casino Lodge in Atlantic Town. The gaming trade veteran introduced her wonder resignation previous these days, October 11. (Symbol: LinkedIn/On line casino.org)

Ocean On line casino unveiled the inside track to gaming media retailers with a short lived commentary.

We need to tell you that Terry Glebocki has resigned from her place from Ocean On line casino Lodge. We thank Terry for her provider as leader govt officer since 2019 and need her neatly in her long term endeavors,” the discharge mentioned.

Glebocki took the Ocean On line casino helms in December of 2019. Underneath her management, the on line casino was once ready to show financially sound. Glebocki has been credited for saving the boardwalk on line casino, because it was once nearing monetary damage when she arrived.
“Glebocki has 3 a long time of economic control enjoy, which navigated Ocean’s direction to monetary steadiness,” the on line casino persevered. “Terry joined Ocean on the point of chapter, and is leaving the valuables as a number one on line casino lodge in Atlantic Town.”
Long run Unknown
Ocean On line casino didn’t specify a explanation why for Glebocki’s departure. It’s additionally unclear whether or not Glebocki will stay because the president of the On line casino Affiliation of New Jersey (CANJ), a submit she was once appointed to simply in Might.
Previous to becoming a member of Ocean On line casino, Glebocki served as finance leader of the exact same on line casino lodge when the valuables was once referred to as Revel. Her time as CFO creating and opening the brand new lodge ran about seven years, till the boardwalk assets went bankrupt and shuttered in September of 2014.
Her Atlantic Town resume moreover contains stints at Tropicana Leisure and Trump Leisure Accommodations. Each firms have since been dissolved.
Ocean’s Top Tide
Glebocki’s time at Ocean On line casino noticed the valuables emerge from the shallows of Atlantic Town’s gaming trade. Previous to her arrival, Ocean reported a gross working lack of $2.5 million during the first 3 quarters of 2019.
Luxor Capital, a New York-based hedge fund, received the suffering on line casino lodge from developer Bruce Deifik in early 2019. Deifik died only a month later in a single-vehicle automotive twist of fate that was once brought about via a clinical emergency.

Luxor introduced in Glebocki, an individual who knew what did and didn’t paintings for the towering blue construction in Atlantic Town, to opposite Ocean’s fortunes. It paid off, as Ocean emerged the next 12 months as probably the most successful on line casino on the town right through the pandemic-stricken 2020. Ocean reported an working benefit of just about $21.9 million in 2020, besting the opposite 8 casinos.

Within the first two quarters of 2021 — probably the most lately printed quarterly record from the New Jersey Department of Gaming Enforcement — Ocean became a benefit simply shy of $17 million.
AC Feminine Tidal Wave
Glebocki’s arrival at Ocean as CEO helped bring in feminine management to Atlantic Town’s casinos. Previous to her appointment, all 9 casinos have been headed via males.
Simply 5 months after Ocean named Glebocki as CEO, MGM Accommodations appointed Melanie Johnson to move its Borgata assets in Atlantic Town. And in September of 2020, Caesars Leisure introduced Jacqueline Grace as the brand new common supervisor of the Tropicana.

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