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