International edition
October 19, 2021

Atlantic City

Ocean Casino Resort CEO Terry Glebocki resigns

Ocean Casino Resort CEO Terry Glebocki resigns
Former CEO of Ocean Casino Resort Terry Glebocki.
United States | 10/11/2021

The casino did not give a reason for Terry Glebocki’s departure after two-year tenure, which was announced to staff Monday morning, and it declined further comment.

T

he CEO of Ocean Casino Resort has resigned after turning around the finances of one of Atlantic City’s larger casinos during her two-year tenure.

Glebocki was credited with turning around the casino’s finances. When it operated as Revel from 2012 to 2014, the casino never came close to turning a profit, filed for bankruptcy twice and shut down after little more than a year and a half of operation.

But under Glebocki, the casino reduced expenses while carrying out renovations to the casino floor, and adding amenities for upscale gamblers, which helped grow its revenue from gambling and non-gambling sources. In April, it reinvested $15 million into the property, including interior work, as well as renovations to pools, cabanas and its beachfront.

Glebocki has 30 years of financial management experience and started her career in accounting. Her casino jobs included internal auditing at Bally’s, serving as vice president of finance for Trump Entertainment and chief financial officer for Trump Plaza, and corporate chief financial officer for Tropicana Entertainment.

It was not immediately clear who would lead the casino while a new CEO is sought, and it also could not immediately be determined whether Glebocki would continue in her role as president of the Casino Association of New Jersey, the Atlantic City casinos’ trade association. The association did not immediately respond to a message seeking comment Monday.

Ocean would only say that “we are working through this transition and will provide updates as they become available.”

Glebocki’s exit reduces the number of female casino bosses after an unprecedented wave of female leadership. Just over a year ago, four of the city’s nine casinos were led by women, but two have since left. Jacqueline Grace at the Tropicana and Melonie Johnson at the Borgata remain in their positions at the top of their respective casinos.

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