Oceans will partner up with the bookmaking subsidiary of ELYS to supply sports wagering platform services for the temporary sportsbooks, as well as the new permanent location once it has been completed. Oceans anticipates that it will complete the construction of the sportsbook during the 2nd quarter of 2022.
The construction of the 2,500 square foot facility is expected to cost Oceans an estimated $4 million. The new space will also contain a lounge, as well as a bar. Additional details of the new concept will be released further in the coming weeks.
Oceans spans over 20 beachfront acres on the boardwalk and has more than 13999 guest rooms and suites, 135,000 square feet of gaming space, 1720 slot machines, 108 gaming tables, as well as meeting rooms, and a massive convention space. It also has a 40,000 square foot spa as part of its guest experience.
During the construction period of the permanent sportsbook, Oceans will offer retail sports wagering in a temporary pool facility for 9 months starting March 2022. As Oceans is offering retail sports betting in the temporary lounger, Ocean’s 2 affiliated online sports betting partners namely Out of the Gate and Tipico will continue offering online sports betting under Ocean’s license.
The existing sportsbook at Ocean will remain open all through Super Bowl LVI. However, after the Super Bowl, a betting window and kiosk will be availed for in-person betting. Presently, Oceans is undertaking a $75 million renovation project that was facilitated by its new investor Michigan-based Ilitch Holdings. Ilitch Holdings controls several well-known and well-performing brands including, the Detroit Red Wings, the Detroit Tigers, and the Little Caesars pizza chain, as well as MotorCity Casino.
With Ilitch Holding’s investment, Ocean now has the capital to not only hire some of the most experienced executives in the gaming and hospitality industry, as well as upgrade its facilities. As a result of this additional support, Oceans has strengthened its standing in the market and will likely continue to gain market share.
As mentioned earlier, a considerable portion of the investment from Ilitch will be spent reducing the debt to Luxor. More than $70 million will also be utilized to finish the 12 incomplete floors of hotel rooms at the Oceans facility. In total, Oceans is expected to add 464 additional rooms, which will also include 1000 new suites on 3 floors.
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Elys has already submitted certification ahead of construction
Elys Game Technology, which is currently one the fastest growing gaming and sports betting tech companies has already submitted its wagering platform for certification in the Garden State ahead of its Oceans casino facility. In addition to submitting its sports betting platform Gameboard to the NJDE, Elys also applied for a transactional Waiver.
If approved, this transactional waiver will allow Elys to commence installation processes in New Jersey. The procedures and transactional waiver are important for any operator that intends to debut its services in New Jersey. As Elys continues to put proper measures in place towards its Oceans Resort launch, its submission for certification is an important milestone.
Elys has a multi-pronged plan of expansion in not just traditional brick and mortar casino businesses, sportsbooks, as well as iGaming operators. Oceans first announced that it was teaming up with Elys in November. At present, Elys is operational in both online and retail channels all through Italy thanks to its 1200 webshops.
Today, it is also live in North America thanks to its partnership with 6 tribal casinos. The brand has plans to process applications to supply sports betting throughout its wagering platform in the US and Canada, not just to casinos but independent business ventures as well. Elys intends to leverage its superior technology, which has proven to be extremely successful in the European market where the brand already has an existing presence.
New developments expected in New Jersey
It’s not just Oceans that is moving forward with its expansion and renovation plans in Atlantic City. More non-casino projects that involve family entertainment and education will also take flight in 2022. However, challenges lurk for the gambling industry.
The pandemic still has not been brought to an end with the Omicron variant still posing a threat to normal operations, as well as in-person wagering. An even bigger challenge that the state has to deal with is the newly legalized betting market in New York. Because New York punters now have access to sports betting, the Garden State is expected to lose at least 20% if its normal sports betting volume as residents of NY will no longer have to cross over to enjoy New Jersey’s vibrant offerings.
Nonetheless, the future’s looking bright for Oceans. In February, Oceans intends to renovate its rooftop pool by introducing a retractable roof that can allow the pool to be in use all through the year. Resorts is also expected to invest a further $5 million in new table games, as well as slot machines while remodeling its high limits slots area. This will also include an additional VIP room with an Asian theme.
The other AC casinos that are renovating include Caesars Casino, which will begin construction of its new theatre in the first quarter of 2023. The project is expected to refurbish the exterior of the old Warner Theatre, which is the part of the casino that is currently facing the ever-popular boardwalk.
Caesars also plans to construct a new restaurant, as well as renovate its hotel rooms. Caesars has partnered up with Nobu Hospitality to create the Nobu Hotel AC. Bally’s is also going to unveil its renovated rooms, its upgraded hotel lobby bar, as well as its indoor-outdoor entertainment venue this year.
Meanwhile, in terms of non-casino-related projects, ground is expected to be broken in early 2022 on the construction of a $100 million indoor water part. The water park is anticipated to be constructed next to the old Showboat Casino, which is now a regular hotel. A new ShopRite supermarket is also going to be constructed for opening in 2023.
