The Mysterious Owner of Ocean Casino: Unveiling the Power Behind the Glamour

Ocean Casino, a luxurious gambling establishment located in Atlantic City, has long been a topic of intrigue and speculation. Who owns Ocean Casino, and what does this mysterious entity bring to the table? This article delves into the world of Ocean Casino, exploring its ownership, history, and the impact it has had on the gambling industry.

1. The History of Ocean Casino

Ocean Casino, originally known as Bally's Atlantic City, first opened its doors in 1978. Since then, it has undergone several name changes and renovations, becoming one of the most iconic casinos in the region. The property has been owned by various entities over the years, each contributing to its growth and evolution.

2. The Current Owner of Ocean Casino

As of 2021, Ocean Casino is owned by a partnership between the Penn National Gaming and the Tishman Speyer Properties. This partnership brings together two powerful entities in the gaming and real estate industries, creating a formidable force in the Atlantic City market.

3. The Impact of Ownership on Ocean Casino

The current ownership of Ocean Casino has had a significant impact on the property. The partnership between Penn National Gaming and Tishman Speyer Properties has resulted in several improvements, including:

- A $500 million expansion project, which included the addition of a new hotel tower, a spa, and a beach club.

- A rebranding effort that transformed the casino into a more modern and upscale destination.

- The introduction of new dining and entertainment options, making Ocean Casino a one-stop-shop for visitors.

4. The Mysterious Owner of the Tishman Speyer Properties

While the Penn National Gaming is a well-known entity in the gaming industry, the Tishman Speyer Properties is a lesser-known name. This real estate investment firm was founded in 1978 and has since become one of the most prominent players in the industry. Here are some key points about the Tishman Speyer Properties:

- The company has a diverse portfolio, including office buildings, residential properties, and retail spaces.

- Tishman Speyer Properties has a strong track record of successful investments and has been involved in several high-profile projects.

- The company is known for its strategic approach to real estate investment, focusing on long-term value creation.

5. The Role of the Owner in the Gaming Industry

The ownership of Ocean Casino by the partnership between Penn National Gaming and Tishman Speyer Properties has had a significant impact on the gaming industry. Here are some ways in which the owners have influenced the industry:

- The expansion and rebranding of Ocean Casino have set a new standard for luxury casinos in Atlantic City.

- The partnership has demonstrated the potential for collaboration between gaming and real estate companies, leading to innovative projects and opportunities.

- The success of Ocean Casino has helped to stabilize the Atlantic City market, which has been facing challenges in recent years.

Frequently Asked Questions:

Q: How did Penn National Gaming and Tishman Speyer Properties come together to own Ocean Casino?

A: The partnership was formed through a strategic investment by Tishman Speyer Properties in Penn National Gaming. This investment allowed the two companies to combine their resources and expertise to own and operate Ocean Casino.

Q: What is the history of the Tishman Speyer Properties?

A: The Tishman Speyer Properties was founded in 1978 and has since become one of the most prominent real estate investment firms in the world. The company has a diverse portfolio, including office buildings, residential properties, and retail spaces.

Q: How has the ownership of Ocean Casino impacted the Atlantic City market?

A: The ownership of Ocean Casino by the partnership between Penn National Gaming and Tishman Speyer Properties has helped to stabilize the Atlantic City market. The expansion and rebranding of the casino have set a new standard for luxury casinos in the region, attracting more visitors and generating increased revenue.

Q: What are some of the new dining and entertainment options introduced at Ocean Casino?

A: Ocean Casino has introduced several new dining and entertainment options, including a luxury hotel tower, a spa, and a beach club. The casino also offers a variety of dining establishments, bars, and live entertainment venues, making it a one-stop-shop for visitors.

Q: How has the partnership between Penn National Gaming and Tishman Speyer Properties influenced the gaming industry?

A: The partnership has demonstrated the potential for collaboration between gaming and real estate companies, leading to innovative projects and opportunities. The success of Ocean Casino has helped to stabilize the Atlantic City market and has set a new standard for luxury casinos in the region.