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.READ MORE: Sixers' Joel Embiid Named All-Star Starter For 5th Straight Season
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.READ MORE: Philadelphia Weather: How Much Snow Will Major Nor'easter Dump On Your Area?
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.MORE NEWS: New Roundabout Set To Be Built At Busy South Philadelphia Intersection
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