ATLANTIC CITY, N.J. — 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. Luxor Capitol will assume control once it receives interim authority to own a casino. Until it gets that approval, which could come within three to four months, a trust will be created for the casino's temporary ownership. Once Luxor Capital completes a promised $70 million investment into the property, a trustee will be appointed to oversee the trust until the company is deemed suitable to hold a casino license in New Jersey. The casino-hotel plans to operate normally during the transition. The ownership change comes less than seven months after the property's re-opening. "We are incredibly proud of the progress … [Read more...] about Luxor Capital to own Atlantic City’s Ocean Resort Casino
ATLANTIC CITY, N.J. — A New York hedge fund that lent money to Atlantic City's Ocean Resort Casino is assuming ownership of it. Luxor Capitol Group will assume control once it receives interim authority to own a casino. The identity of the new owner was revealed in a press release Monday from the casino. The company will assume the ownership interest of Bruce Deifik (DIE'-fick) and his family. Deifik said earlier that he would retain a small, non-controlling interest in the casino, but he will have no ownership of it at all. Ocean Resort, the former Revel casino, is changing hands just over a year after Deifik bought it from Florida developer Glenn Straub for $200 million. … [Read more...] about Luxor Capitol to own Atlantic City’s Ocean Resort Casino
ATLANTIC CITY, N.J. — The Vans Warped Tour will come to Atlantic City for two days in June. The music, sports and art festival will be held on the Atlantic City beach June 29th and 30th. The more than 50 artists who will perform will be announced on March 1, the same day tickets go on sale to the general public. Ticket pre-sales begin on Feb. 28. The tour is celebrating its 25th anniversary. The shows will be produced by Live Nation in association with the Casino Reinvestment Development Authority and the city. Atlantic City is one of three cities to host the tour this year, and the only one on the East Coast. The other cities are Cleveland and Mountain View, California. … [Read more...] about Vans Warped Tour coming to Atlantic City in June
By Josh Dubow Associated Press Published 12:22 AM EST Jan 27, 2019 San Jose, Calif. — Sidney Crosby now has one more reason to have good memories of the Shark Tank. Crosby had two goals and three assists to win the All-Star MVP, and Henrik Lundqvist pitched a first-half shutout to lead the Metropolitan Division to a 10-5 victory over the Central Division in the championship round of the NHL All-Star game Saturday night. Crosby finished the night with four goals and four assists in two games on the same ice where he won the Conn Smythe Trophy and Stanley Cup three years ago for Pittsburgh. “I have some great memories here for sure,” he said. “It’s always been a tough place to play. Obviously, when you win in a rink and have those memories, it’s something you think about every time you go there. Being in that dressing room, it’s automatic to bring you back to some of those moments.” The memories aren’t nearly as sweet for the … [Read more...] about Red Wings’ Jimmy Howard plays 10 minutes in the Atlantic Division’s 7-4 loss in the semifinals.
Flybe, a major flight provider out of Norwich Airport, has been bought out by Virgin Atlantic and Stobart Group. PHOTO BY SIMON FINLAY Norwich Airport airline Flybe has assured shareholders that its takeover bu a number of larger airlines, including Virgin Atlantic, is on track. To settle unrest in the shareholders, Flybe confirmed that it had already received the first £10m in funding as part of the buyout. Flybe currently flies out of Norwich to destinations including Exeter, Alicante and Malaga, as well as offering flights to John O’Groats and Aberdeen through a partnership with Eastern Airways.MORE: Norwich Airport airline Flybe puts itself up for saleThe group - which is being bought by a consortium of buyers comprising of Virgin Atlantic, Stobart Group and investment firm Cyrus Capital Partners - last week overhauled its takeover after the carrier failed crucial financing terms.Flybe said it had failed to meet the conditions for receiving a promised £20 million … [Read more...] about Flybe seeks to reassure shareholders as Virgin Atlantic takeover turns bumpy