“We are saddened to learn that Bruce Deifik, former owner of Ocean Casino Resort, has passed away,” said Diane Spiers, a spokeswoman for the property, via email Monday. “The Ocean family is grateful for Bruce having the vision to reopen this beautiful oceanfront property and employing over 3,000 members of our community. Our thoughts and prayers are with his family.”

Deifik and his company AC Ocean Walk LLC paid $229 million for Ocean Resort in January 2018, purchasing the former Revel Casino Hotel from Florida-based real estate developer Glenn Straub.

Under Deifik’s control, the property, which had been closed since 2014 after only two years of operation, reopened on June 27 along with Hard Rock.

But Ocean struggled to gain a significant market share among Atlantic City’s nine properties. In February, state gaming regulators revealed Ocean had lost nearly $23 million in the final months of 2018 and that the property was not in compliance with strict financial conditions.

In mid-January, Luxor Capital Group, a New York-based hedge fund which had financed a significant portion of Deifik’s original investment, assumed control of Ocean Resort. A trustee is overseeing the property until the ownership transfer is completed, something that could happen within the next few weeks.