ATLANTIC CITY, N.J. (AP) — Atlantic City’s Ocean Casino Resort has promoted one of its executives to become interim CEO of the property.
The casino told The Associated Press that Bill Callahan was approved Tuesday by the state Division of Gaming Enforcement as its new interim CEO.
He previously served as executive vice president and senior vice president of Ocean. Before that, he worked at the Borgata casino.
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.”
Neither the casino nor its owner, New York hedge fund Luxor Capital Partners, would comment Tuesday.
Callahan has 25 years experience in the casino industry.
At the Borgata, he 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.
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 nationwide 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.
Source: Associated Press