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ATLANTIC CITY, N.J. (AP) — A New York hedge fund that lent money to Atlantic City’s Ocean Resort Casino is assuming ownership of it.

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Luxor Capital Group will assume control once it receives interim authority to own a casino.

The identity of the new owner was revealed in a press release Monday from the casino.

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The company will assume the ownership interest of Bruce Deifik (DIE’-fick) and his family.

Deifik said earlier that he would retain a small, non-controlling interest in the casino, but he will have no ownership of it at all.

Ocean Resort, the former Revel casino, is changing hands just over a year after Deifik bought it from Florida developer Glenn Straub for $200 million.

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(Copyright 2019 by The Associated Press. All Rights Reserved.)