By WAYNE PARRY, Associated Press
ATLANTIC CITY, NJ (AP) – Ocean Casino Resort in Atlantic City has promoted one of its executives to interim CEO of the property.
The casino told The Associated Press that Bill Callahan was approved by the state’s Division of Gaming Enforcement as the new interim CEO on Tuesday.
He previously served as Executive Vice President and Senior Vice President of Ocean. Before that he worked at the Borgata casino.
Callahan was among a group of Borgata executives who left that casino to work for Ocean, which prompted Borgata to sue in 2020, claiming Ocean was poaching key executives and stealing trade secrets. Borgata dropped the lawsuit in May after a settlement that both sides called “amicable”.
Neither the casino nor its owner, New York hedge fund Luxor Capital Partners, commented on Tuesday.
Callahan has 25 years of experience in the casino industry.
At Borgata, he was Vice President of Relationship Marketing at Borgata Hotel Casino & Spa for 17 years. In this job, he was responsible for a team of executives who led the marketing of table games, slots and Asian games.
Last month, New Jersey regulators approved a deal to sell half of the Ocean Casino to the Ilitch family, which owns professional sports teams, a national pizza chain and a casino in Detroit. The deal is expected to be finalized in the coming weeks.
The New Jersey Casino Control Commission has approved the sale, under which Ilitch acquired 50% of the casino for $ 175 million, and will participate equally in important decisions regarding its operation with Luxor.
Of this investment, $ 70 million will be used to complete 464 hotel rooms that have remained unfinished since the property opened in 2012.
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