The Ocean Casino Resort is still facing challenges, but the sale to Luxor Capital Group provides hope for the future. The new ownership has also made changes to the casino’s management team, bringing in industry veterans to help turn the property around. Luxor purchased the property for an undisclosed amount and has since invested in renovations and marketing efforts. The sale to Luxor Capital Group in January 2020 marked the latest ownership change for the Ocean Casino Resort. The financial implications were significant, and it also had an impact on the employees of the casino. Unfortunately, despite his efforts, the casino failed to make a profit, and Deifik filed for bankruptcy in September 2019, just nine months after he purchased the property. However, his plans never materialized, and he eventually sold the casino to Colorado developer Bruce Deifik in January 2018.ĭeifik invested millions of dollars in renovations and rebranded the property as the Ocean Casino Resort. Straub had big plans for the property, including turning it into a university or a medical facility. The first ownership change happened in 2015 when Florida developer Glenn Straub purchased the casino for $82 million. However, the casino struggled to turn a profit, and in 2014, it filed for bankruptcy. It was built at a cost of $2.4 billion and was touted as a game-changer in the Atlantic City market. The Ocean Casino Resort, formerly known as Revel Casino, opened its doors in 2012. You’re in for a wild ride as we take a look at how the ownership of this popular resort has changed hands over the years.

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