ATLANTIC CITY, N.J. (AP) — A perennially challenged Atlantic City casino will finally turn a profit this month and chart the way forward under the ownership of a New York hedge fund.
ATLANTIC CITY, N.J. (AP) — Bruce Deifik, the Colorado developer who lost a fortune running a struggling Atlantic City casino for six months, was killed in a single-car crash in Denver. He was...
Management shakeup at Atlantic City’s Ocean Resort Casino
ATLANTIC CITY, N.J. (AP) — The new owners of Atlantic City's Ocean Resort Casino have installed new top management as the property changes hands.
Only 1 owner profited from this casino _ when it was closed
ATLANTIC CITY, N.J. (AP) — As a star-crossed Atlantic City casino changes hands yet again, only one owner has ever profited from it — the one who never had it open for even a day.
The Ocean Resort Casino, formerly known as Revel, is being taken over by a New York hedge fund, having run short of money yet again. Figures released Wednesday by state regulators show the property is in much worse financial condition that had previously been known publicly, losing money every month since September.
Luxor Capital Group a new player in Atlantic City
ATLANTIC CITY, N.J. (AP) — With the announcement last week that Luxor Capital Group, a New York-based private investment firm, had assumed majority control of Ocean Resort Casino, many are wondering what the future holds for the struggling property.
But the company's intentions for Ocean Resort remain unclear.
Luxor Capital to own Atlantic City’s Ocean Resort Casino
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 was identified as the new owner in a press release Monday from the casino. The company, which is not related to the Luxor casino in Las Vegas, will take over the ownership interest of Bruce Deifik (DIE'-fick) and his family.
APNewsBreak: Ocean Resort Casino changing hands
ATLANTIC CITY, N.J. (AP) — Atlantic City's Ocean Resort Casino is changing hands after just six months of operation, the latest indication that the New Jersey seaside resort may have bitten off more than it can chew when it reopened two shuttered casinos last summer.
The property formerly known as Revel is being acquired by an outside company that will make a major investment into it.
Atlantic City casino to take in hurricane evacuees for free
ATLANTIC CITY, N.J. (AP) — An Atlantic City casino owner says he'll take in people fleeing the powerful hurricane due to strike the East Coast this week.
Bruce Deifik told The Associated Press on Wednesday that he will let anyone fleeing the storm stay for free at his Ocean Resort Casino until it has passed.
People must show identification proving that they live in an area endangered by the storm.
2 Atlantic City casinos open a day early
ATLANTIC CITY, N.J. (AP) — Atlantic City's newest casinos threw open their doors to gamblers Wednesday — a day earlier than scheduled.
The previously shuttered Hard Rock and the Ocean Resort Casino were supposed to open Thursday, but both received permission Wednesday afternoon from the New Jersey Division of Gaming Enforcement to begin full operations, and both immediately started letting gamblers inside.
Both properties still plan elaborate grand openings Thursday.
ATLANTIC CITY, N.J. (AP) — A Denver developer and New Jersey gambling regulators made a big bet Thursday on the future of Atlantic City and a casino that flopped four years ago, granting a casino license to the Ocean Resort Casino a week before it is due to reopen.
Ocean Resort Casino owner: We’ll surprise the world
ATLANTIC CITY, N.J. (AP) — The owner of Atlantic City's Ocean Resort Casinos promised to "surprise the world" when the former Revel casino reopens next week.
And the surprises began Wednesday when the casino's executives unveiled some optimistic financial projections that would see it do better than established casinos including Tropicana, Harrah's and Caesars, at levels Revel could only have dreamed.
ATLANTIC CITY, N.J. (AP) — For months, there was little, if any, sign that Atlantic City's former Revel casino, a $2 billion bust, was getting ready to reopen.
Colorado developer Bruce Deifik bought it in January and made plans for its reincarnation as the Ocean Resort Casino. But there was scant activity visible on the site.