Ocean Resort in Atlantic City, US, is being sold to a company that plans to invest $70m in the property, owner Bruce Deifik has revealed.
Deifik did not identify the buyer but said the sale should be finalised by Thursday of next week. The former Revel casino, which has ranked last in gaming revenue in Atlantic City since reopening as Ocean in June, will remain open while changing hands.
Deifik will maintain a small stake in the casino. He bought the property for $200m last year.