Oceans Casino is moving forward with its renovation plans. Oceans has already announced that it will commence the construction of its new venue in March, which is also typically the period in which March Madness takes place in New Jersey. Oceans plans to commence construction of its brand new venue that will include a lounge, an entertaining bar, as well as an enhanced casino gaming floor.
By the time March Madness rolls around this year, there will be one sports wagering window and one kiosk available for customers to place legal wagers on the various events. Online wagering will also be available for any customer that has access to a smartphone. The new venue is expected to cost Ocean at least $4 million and will open sometime during the summer.
As part of the plans, Oceans is expected to add more than 460 guest rooms and suites. The venue spans more than 20 acres on the famous boardwalk and features 1399 rooms and suites, 135,000 square feet of gaming entertainment, 1,720 exciting and high-quality slot machines, 108 gaming tables, and 160,000 square feet dedicated to meetings and conventions. There is also an additional 90,000 square feet of outdoor space plus a 40,000 square foot world-class spa.
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Oceans launched a $15 million reinvestment in AC last summer
Last year, Oceans announced that it would launch a $15 million reinvestment in AC. The company would open 2 new guest lounges dedicated to Oceans Rewards cardholders, new pathways all over the casino floor to make navigation easy for its guests, as well as added more than 250 new slot machines. The casino also promised to earmark an excess of $1 million for raises and bonuses for its employees last year.
After successfully debuting the Cove high limit slot experience, as well as the Loft private luxury gaming suite, Oceans also debuted additions to its casino floor last summer. The resort added all-new high-limit tables and a new Asian-themed space. In addition to upgrading its floor, it also improved upon several non-gaming amenities such as the beach, and the pool and cabana area.
In addition to more than $1 million in yearly salary increases and bonuses, it also donated $50,000 to various local charities. In partnership with the AtlantiCare Foundation’s Growing Green Initiative, Oceans provided community gardens at Uptown School Complex, as well as the ever-popular Absecon Light House. It also teamed up with South Jersey boat riders to organize 2 beach clean-ups, as well as fund a program that provided surf lessons to kids in the community.
Oceans also provided support to the Covenant House of New Jersey to supply shelter for homeless adults and victims of human trafficking. It also invested in the Boys and Girls Club’s STEM program that gives kids access to programs that teach science and technology.
Oceans also teams up with Elys to boost growth
Ocean continues to strengthen its position in AC and these new upgrades are likely to solidify the brand’s presence. In November last year, Oceans Ocean partnered up with Elys’ USBookmaking, one of the most popular interactive gaming and sports wagering companies in the country.
Under this new partnership, USBookmaking’s Elys Sports will supply Oceans with trading management services, as well as retail solutions in the future. This partnership is expected to take place in March 222 pending approval from gaming regulators in New Jersey. Oceans will be able to capitalize on Elys’s technology and expertise to offer punters the best-in-class experience.
At present, Elys has a vibrant presence in both online and retail channels all through Italy thanks to its large network that consists of more than 1, 200 web ships. The brand is also live in North America as a result of its partnership with 6 tribal casinos. Elys has major plans to offer sports wagering throughout the US and Canada, not just to physical casinos but to independent venues as well.
In Atlantic City, which is one of the most competitive sports betting markets in the country, Elys’ partnership with Oceans will allow both brands to succeed. Not too long ago, Elys actually submitted its wagering platform for certification in New Jersey ahead of the planned deployment of the app in the Garden State.
In addition to submitting its sports betting platform titled US Gameboard to NJDGE, Elys also applied for a transactional waiver, which once approved, will allow Elys to start installation processes in New Jersey. These approvals from the New Jersey Gaming Division are all required before its official debut in New Jersey alongside Oceans.
Oceans battling it out for the top position in AC
According to data shared by authorities, casinos in AC won more than $2.55 billion from punters in 2021. The physical casino’s gross gaming revenue was only 4.9% below the $2.68 billion that was generated from the 9 casinos in 2019. Revenue from slot machines amounted to $1.87 billion while table games generated $680 million. In total, land-based revenue was 69% higher in 2021 than it was in 2020.
Borgata was by far the biggest land-based earner, managing to generate $606 million. Hard Rock came in at second place with $431 million while Oceans took 3rd spot with $306.8 million generated. IGaming and sports betting, on the other hand, continued to perform spectacularly throughout the year.
IGaming, which consists of online poker, slots, and table games amounted to $1.36 billion. This was an increase of 41% compared to the previous year. Sportsbooks, on the other hand, generated $ 815 million, which was more than double the amount generated in 2020 and 172% higher than what was generated in 2019.
Along with the brick-and-mortar casinos, the state’s 3 horse tracks namely Freehold Raceway, Meadowlands, and Monmouth all offer retail, as well as online sports betting. Only casinos and their 3rd party partners offer iGaming products. When iGaming and sports betting were combined, the vertical managed to generate $4.737 billion, which was 65% better than what was generated in 2020 and 36% better than 2019’s performance.
