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 property formerly known as Revel is being acquired by an outside company that will make a major investment into it.

Current owner Bruce Deifik (DY’-fihk) tells The Associated Press the new company will assume majority ownership of the casino, but he would not identify it.

The new owner will make a $70 million investment into Ocean Resort, which plans to remain open.

Ocean Resort was one of two formerly shuttered casinos that reopened on the same day last June, along with Hard Rock.

In its first incarnation as Revel, the $2.4 billion casino lasted just over two years before closing in 2014.

Deifik, a Colorado developer, bought it a year ago for $200 million.

Categories: National News