New York Off-set Fund Purchase Ocean Resort Casino

A New York private capital spent firm continues to be identified as the newest owner of your ailing Boardwalk hotel and also casino hotel

New York-based hedge create funding for Luxor Money Group has long been revealed when the mysterious new buyer of Ocean City’s Water Resort Internet casino after several months of speculations about her identity.

The exact private investment decision firm has no relationship to the Todas las Vegas-based Luxor Hotel & Casino, and that is owned by just MGM Vacation rentals International.

Luxor is acquiring Ocean out of Colorado businessman Bruce Deifik just eight months following the opening on the Boardwalk property or home. Mr. Deifik acquired typically the hotel together with casino turn early in 2018, having to pay $229 , 000, 000 to the previous holder, Florida individual Glenn Straub.

Mr. Deifik’s purchase of the main Atlantic Locale casino vacation resort was actually in part funded using a $122. 5 various million passage loan out of Luxor .

A press release from Friday revealed that Luxor would this would principal master of Beach, while Mr.. Deifik will certainly retain one small noncontrolling interest in the property . First recommendation that the The state of colorado investor needed buyers to the hotel in addition to casino hotel emerged from a lawsuit filed last Dec by the original manager of the HQ2 membership at the property, Joseph (more…)