Ocean Casino’s hedge-fund owners approved by state gaming regulators

ATLANTIC CITY — State gaming regulators advanced a New York-based hedge fund’s controlling interest of Ocean Casino Resort and approved a veteran of the resort’s industry as trustee.

Luxor Capital Group was granted interim casino authorization Wednesday by the state Casino Control Commission following a lengthy public hearing. The authorization was granted with several financial conditions, as recommended by the state Division of Gaming Enforcement, to ensure the casino hotel’s stability.