WHYY thanks our sponsors - become a WHYY sponsor Long-term, the trajectory is still as positive as it was in February, when it was incredibly positive.” We can debate what will happen when the city opens up. “Our budget for 2020 showed the company covering its expenses and generating free cash flow beyond that. “Before the coronavirus, Ocean was self-sufficient,” he said. Michael Conboy, a partner in the publicity-averse hedge fund, told regulators the company plans to own and operate the casino for at least the next 25 years. Most of all, the casino came to terms with the fact that it is, in fact, a casino, pivoting from the initial strategy Revel’s owners employed in stressing the property as a resort destination that just happened to offer gambling as one of many amenities. It also assembled a new management team with experience in the Atlantic City market, and set out to correct many of the perceived flaws of the property, including a confusing layout of the casino floor, and adding safety panels to the vertigo-inspiring escalators that lifted patrons to the casino floor. 2019, Luxor pumped $70 million into the casino, including $50 million to pay down debt.
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