That was brief. After six months of operation at Ocean Resort, owner Bruce Deifik wants out. Word is he’s found a mystery buyer, one who will invest $70 million in “a new 
buffet, additional hotel suites, gaming floor improvements and more entertainment options.” It’s easier to rule out potential acquirers — Glenn Straub, Eldorado Resorts, Caesars Entertainment — than finger the owner-to-be. As for Deifik, it’s probably the path of least resistance to sell than to face Ocean Resort’s embarrassing failure to live up to his financial projections (first he forecast it would equal the Tropicana Atlantic City in revenue[($384.5 million], then said it would make $292 million in its first year; he’s come up woefully short on both counts). Ocean Resort quickly faded to the back of the pack, and fell further and further behind.
As for the new owner, don’t count on anyone gaming-savvy. Chris Grove identifies it as “a mix of bank that was already involved in ownership and a small consortium of wealthy individuals from [Colorado]. No super-familiar gaming names in the mix as far 
as I’ve heard.” Word that Ocean was on the market leaked as part of a lawsuit filed by the casino’s former nightclub manager. Also, between the poor financial performance and mechanics liens on the property for unpaid bills, Deifik was in the hot seat. A submission for regulatory approval of a key Deifik executive was pulled at the last minute. Deifik was also a no-show at a scheduled appearance before the Greater Atlantic City Chamber. Interestingly, when accused of trying to sell Ocean Resort in the HQ2 lawsuit, Deifik denied anything of the sort was afoot.
Deifik bought the former Revel sight unseen and that may have been his first mistake. At least players could laud his customer-friendly regime, which saw such policies as lifting the smoking ban, improving customer service and welcoming bread-and-butter customers (a high-end preoccupation had caused Revel to turn turtle). It remains to be seen whether the new owners will inherit the $1.1 million in construction liens owed by Deifik for lighting and work on HQ2. While the change of ownership doesn’t validate doomsaying prophecies that two casinos would close in 2018, it does suggest that nine casinos is at least one too many for the Boardwalk.
Don’t feel bad for Deifik. He’ll always have the Golden Tiki.
* What is it with Las Vegas casino developers and abstruse names? (At least Resorts World Las Vegas has an obvious connotation.) Derek Stevens finally rolled out his plan for the Vegas Club site and the name of it is … Circa. WTF? I know what the word means but how does it fit into a resort context and what will potential customers make of it? Circa Resort & Casino will “celebrate the timeless spirit of the city while leading the charge for a bold new era with game-changing guest offerings,” we are told. VitalVegas author Scott Roeben has some witty musings on the new project, which will cost $1 billion and be the tallest building in Downtown, reshaping the Las Vegas skyline.
As for specifics, they include 777 hotel rooms (superstitious much?) and Fremont Street‘s longest outdoor bar. Bring it on! The roof will be crowned with a ginormous HDTV set, overlooking the multi-pool amphitheater (replete with cabanas and all that exclusivity-conducive stuff). On a more common-man level, the “Garage Mahal” (yes, that’s its 
name) will have dedicated lanes for both Uber and Lyft, causing much agita for the taxicab racket. In addition to a stadium-styled sports book (Westgate Las Vegas, beware), Circa will also flout conventional wisdom by splitting its casino over two floors. We are not reproducing pictures of the casino floor because, frankly, it looks like almost any recent casino floor in Vegas. Members of The One loyalty-card program can heave a sigh of relief: Circa will adopt the card, currently honored at Golden Gate and The D. Little touches like that are appreciated more by players than one can emphasize. The Golden Nugget has had the high end of Downtown business pretty much to itself. Circa aims to beat Tilman Fertitta at his own game. I, for one, cannot wait to see the outcome.
Circa looks kinda old-school cool; with a modern twist. I just dont get “Garage Mahal” though…
When Bruce Deifik purchased Revel/Ten from Glenn Straub, he stated he would finished the 12-14 hotel floors that were never fitted out. He did “renovate” the existing rooms, but kept the scuffed up Revel furniture in place. Recently the AC Press noted his debt was re-set and he/they now owes 65 Million more than when purchased. It was stated that part of the money will be used for employee salary continuation. Revel/Ten/Ocean is too large a building for an inexperienced operator. It has always been an over improvement for AC. It needs a casino with affiliations to other casinos.