The Casino Control Commission has approved a transfer of ownership of the Ocean Resort Casino. The Commission met Wednesday and approved the transfer to the Luxor Capital Group, even though the casino lost $23 million during its first five months of operations. The Ocean Resort used to be the Revel Casino.
The future ownership of the Ocean Resort Casino may be decided by the Casino Control Commission on Wednesday. The Commission is expected to hear a complex deal in which Luxor Capital Group would increase its ownership interest and essentially take control of the casino. A designated trustee would be appointed.
The search continues for a man wanted in connection with Sunday’s shooting at the Hard Rock Casino in Atlantic City. Police say 40 year old Emery Chapman has been charged with aggravated assault and weapons offenses. A 25 year old Pleasantville man was shot in the chest, allegedly by Chapman, early Sunday morning.
The Super Bowl was a super bust for sports betting in New Jersey. Casinos and horse tracks lost about $4.6 million in sports bets as many bettors took the Patriots and gave up a few points. Nearly $40 million was paid out to customers who placed bets on the game.
Atlantic City Police say a 14 year old boy has been charged with shooting another boy last week. The victim was found on Magellan Avenue and he will survive the shooting. The teenage suspect was found with a loaded gun, pot, and brass knuckles.
Just in time for the Super Bowl, there’s more sports betting in Atlantic City. Both Resorts and the Hard Rock casinos have unveiled new sports betting platforms before the big game. Resorts kicked off an online sports betting program that is expected to rival more traditional sports betting outfits.
Ron James is the new head coach of the still to be named Arena League Football team that will play this season in Atlantic City. James has been a two-time AFL Coach of the Year winner. He began coaching in the AFL 15 years ago with the Las Vegas franchise.
Luxor is ready to take control of the Ocean Resort Casino. The hedge fund has officially petitioned the Casino Control Commission for permission to run the casino. Owner Bruce Deifik has sold the casino to Luxor, who intends to continue operations as a casino.
Motor vehicles will be banned from the Atlantic City boardwalk. The Press of Atlantic City reports that city officials say repairs to the boardwalk are going to be very costly, and even though the walkway is safe for pedestrians, it no longer will be used for motor vehicles outside of emergency vehicles.
The next owner in line for the failed Revel Casino, now known as Ocean Resort Casino..the Luxor Capital Group. The hedge fund is the next owner of the casino, taking over from Bruce Deifik. A trust will run the casino until Luxor gets formal permission to operate it.