The Islandia hotel that will host a Suffolk OTB casino is getting a new name.

The hotel, currently the Islandia Marriott Long Island, will be called Jake’s 58 Hotel & Casino when the renaming becomes official on Feb. 15. The new name was announced Tuesday by the hotel’s owner, Buffalo-based Delaware North.

A large sign bearing the new name could be seen on the hotel’s facade.

The casino, expected to open later this month, is anticipated to generate an annual profit of $164.25 million for Suffolk County Regional Off-Track Betting Corp. OTB officials have said the betting parlor will help them pay down $15 million in debt and dig the agency out of bankruptcy.

Jake’s 58 is named for the Jacobs family, which owns Delaware North, and Long Island Expressway Exit 58, near the hotel.

“The new name is symbolic of Delaware North’s commitment to and enthusiasm for bringing a first-rate entertainment and hotel property to Islandia,” hotel and casino general manager Chuck Kilroy said in a statement. “Our renovations to create a destination gaming venue are in full swing, and we are also committed to keeping the hotel a preferred lodging option for travelers to Long Island.”

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Delaware North bought the hotel last August, about two weeks after the Islandia Village Board voted 4-0 to approve a special permit for the casino to be added to the 10-story, 227-room hotel.

The casino is expected to have 250 video lottery terminals when it opens. It will have its full complement of 1,000 terminals by summer, officials said.

OTB officials have said the casino will create about 250 jobs and save an additional 250 jobs.

Delaware North has promised to pay $47 million over 20 years to Islandia Village. Village officials plan to use the payments to cut property taxes and increase spending.

Casino opponents, including some Islandia residents, have filed a lawsuit in State Supreme Court to try to stop the project. The suit alleges village code does not permit casinos, and the village board voted without a written resolution and without seeking traffic data from state, Islip Town and Suffolk County authorities.