ATLANTIC CITY, N.J. (AP) — 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 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.Ocean Resort Casino in Atlantic City gets new owners after just 6 monthsThe casino-hotel plans to operate normally during the transition. The ownership change comes less than seven months after … [Read more...] about Does surprise ownership change at Ocean Resort Casino in Atlantic City signal trouble for lagging former Revel?
Cochran, Cochran & Yale LLC recently underwent an ownership change, with company president Shawn Baker purchasing the firm from his father, Gary. Brighton-based Cochran, Cochran & Yale specializes in executive search and management consultation, priding itself on finding the right person to fill top-slot positions for clients. Shawn Baker's focus will be expanding the company's footprint, both ... … [Read more...] about Cochran, Cochran & Yale eyes growth after ownership change
Four Indiana casinos have new owners after the Indiana Gaming Commission approved several deals Thursday afternoon. As IBJ reported earlier Thursday, the commission unanimously approved Caesars Entertainment Corp.'s $1.7 billion purchase of Indianapolis-based Centaur Gaming LLC and its two horse racing casinos—Hoosier Park in Anderson and Indiana Grand in Shelbyville. The other ownership deals the gaming commission unanimously approved Thursday involved Belterra Casino Resort in Switzerland County and Ameristar Casino in East Chicago, which are part of a larger, three-company arrangement. Penn National Gaming Inc. is buying Pinnacle Entertainment—which owns Belterra and Ameristar—in a deal worth about $2.8 billion. Penn already owns Hollywood Casino in Lawrenceburg, which means it needed to divest at least one casino property to comply with state law. So, as part of the Pinnacle and Penn deal, Boyd Gaming Corp. is buying Belterra and three other Penn National … [Read more...] about Gaming commission approves ownership changes at four Indiana casinos
The Colonial Candy shop continues to be a staple in the Clintonville community. The 1,000-square-foot store is under its fourth ownership, but family continues to be a central theme to the business. “It has always been an independent, family-owned business,” said Melissa Goodrich in an email. Her family owned the store from 1983 to 2015. “By Clintonville families,” she added. Goodrich said the first family opened the store at 2923 N. High St. in 1966, but they quickly sold the following year to Don and Angie Thompson. Goodrich then sold it Stacey and John Durst, who are now heading into their third year of ownership. The Dursts said they’ve never considered owning a small business or possessed an entrepreneurial spirit. But casual conversations with Goodrich became quickly serious, Stacey said. “We did not want to see a small business in our neighborhood close down, particularly one that’s been here for 50 years,” she said. With a small … [Read more...] about Clintonville candy shop a sweet destination even after multiple ownership changes
PINELLAS PARK — The iconic model train store that has sat at U.S. 19 and Haines Road for close to 30 years announced on its website it will be moving to another location."It’s difficult trying to stock a store that’s bigger than the reality is these days," said Sharisse Hoffman, manager of H&R Trains said. "But we’re still going to be here. We’re not leaving."Earlier in the month, the store announced it would be moving to 7300 58th St N, a smaller location in Pinellas Park that used to be home to Bender’s Lawn and Power Equipment. A message on the store’s website later stated the new location will be finalized in late May.The planned move comes amid a battle over ownership of the store that has gone on for months. After close to a decade of trying to sell the 10,000-square-foot store and outdoor garden railroad that they owned for more than 40 years, Alice and Don Morris found a buyer in 2016.Colin Morris, a customer of no relation who the … [Read more...] about At Pinellas Park’s iconic model train store, an ownership change goes off the rails