When Glenn Straub owned Revel Casino, it is fair to say things moved at a glacial pace. Missed deadlines, years of inactivity, and no end results were commonplace.
So far, the building’s new owners are moving at a much steadier clip. The new owners plan to relaunch the property as Ocean Resort Casino later this year. Apparently it is revving up for an NJ online casino launch as well.
GAN powering real money Ocean Resort Casino
In its latest release announcing 2017 financials, casino software company GAN announced it will power a new real-money online casino for Ocean Resort. The plan is to launch sometime in the first half of 2018.
It isn’t a matter of simply building a site and turning it on though. However, there is some framework in place. One thing Straub did accomplish during his ownership of TEN was launching a social casino. GAN powered the technology of the product.
TEN could not offer real money gambling because Straub refused to get a casino license. Ocean Resort applied for a land-based casino license in December.
The next step for the casino is to obtain an online casino license. The cost is relatively small, just $400,000. Each year there are also $500,000 in renewal fees.
GAN is not a New Jersey-based software provider. However, it does currently run the software for a different real-money online casino in New Jersey, Betfair. Since it is already approved and vetted, it should be relatively easy for GAN to obtain a transactional waiver to operate Ocean Resort’s platform as well.
Hard Rock and Ocean Resort in a race to the space
So far, it is Ocean Resort trying to play catch up to the forthcoming Hard Rock Casino. Hard Rock finalized the purchase of Trump Taj Mahal last year. It is in the midst of a half a billion dollar renovation of the old casino. Nonetheless, it still plans to open its doors to the Atlantic City Boardwalk over Memorial Day weekend.
Meanwhile, the ink is barely dry on the Ocean Resort sale. Unlike the Taj Mahal, the Revel property is in newer and better shape. It will still require $175 million in updates and renovations though. It plans to open during the summer, but will likely not beat Hard Rock to the punch.
When it comes to online casinos though, it is Ocean Resort with the upper hand now. By taking advantage of the existing GAN partnership, the new casino gets to cut some corners and skip some paperwork to get to an online casino before Hard Rock does.
As for Hard Rock? There has been no news on the online casino front so far, not even a software partner. Nonetheless, the assumption is the casino will go online eventually.
There are no official announcements from Hard Rock about online yet. However, internally the new property created an online department, headed up by Lee Terfloth. He previously worked for Borgata as an online gaming consultant and headed up Resorts Casino’s interactive department as well.
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