Ilitch Gaming completes acquisition of Ocean Casino Resort
The Ilitch family’s new gaming entity has bought the remaining 50 per cent of the Atlantic City casino.
US.- Ilitch Gaming has finalised the acquisition of Ocean Casino Resort through an affiliate, assuming full ownership. The transaction, announced in June, concluded today. Financial details were not released.
Ilitch Gaming was formed in June as a unified platform for the Ilitch family’s gaming interests. It has MotorCity Casino Hotel in Detroit, while a deal to purchase the Scarlet Pearl Casino Resort in D’Iberville, Mississippi, is pending closing conditions and regulatory clearances. Chris Ilitch serves as chairperson and John Policicchio is chief executive officer and chief development officer.
Ocean Casino Resort is located on 20 acres of oceanfront property adjacent to the Atlantic City Boardwalk. The resort has 1,860 hotel rooms and suites, a 135,000-square-foot casino, a 4,500-seat concert arena and meeting facilities. Fanatics Sportsbook provides land-based sports betting, and the venue operates online gaming via its betOcean platform. The Ilitch family purchased a 50 per cent stake in 2021.
