Atlantic City's Ocean Casino promotes former Borgata exec to interim CEO
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Ocean Casino Resort has promoted one of its executives, Bill Callahan, to become interim CEO of the Atlantic City property. Former CEO of Ocean Casino Resort Terry Glebocki resigned last month after a two-year tenure.
Callahan was approved Tuesday by the New Jersey Division of Gaming Enforcement as the casino's new interim CEO, the Associated Press reports.
With 25 years of experience in the casino industry, he previously served as Executive Vice President and Senior Vice President of Ocean, owned by New York hedge fund Luxor Capital Partners. Before that, Callahan was one of a group of Borgata executives who left that casino to work for Ocean that prompted Borgata to sue in 2020, claiming Ocean was poaching key executives and stealing trade secrets. Borgata dropped that lawsuit in May after a settlement that both sides described as “amicable.”
Callahan was Vice President of Relationship Marketing at Borgata Hotel Casino & Spa for 17 years. In that job, he was responsible for a team of executives that directed table games, slots and Asian games marketing.
In October, New Jersey regulators approved a deal to sell half of the Ocean casino to the Ilitch family, which owns professional sports teams, the Little Caesars pizza chain and a casino in Detroit. The deal is expected to be finalized in the coming weeks.
The New Jersey Casino Control Commission approved the sale, under which Ilitch acquired 50% of the casino for $175 million, and will share equally in major decisions concerning its operation with Luxor. Of that investment, $70 million will be used to complete 464 hotel rooms that have remained unfinished since the property opened in 2012.
