New York Hedge Fund to Take Over Ocean Resort Casino

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ATLANTIC CITY, N.J. -

A New York hedge fund that lent money to the Ocean Resort Casino in Atlantic City will be taking over as the new owner of the property.

On Monday, January 28th, Ocean Resort announced that Luxor Capital Group will assume control of the property once it receives interim authority to own a casino.

The company will assume the ownership interest of Bruce Deifik and his family.

Deifik previously stated 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, will be changing ownership just over a year after Deifik bought it.

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