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Ilitch Companies is acquiring full ownership of Ocean Casino Resort, marking a significant consolidation of the company’s gaming portfolio under a newly formed national gaming platform. The move comes after Ilitch held a 50% stake in the Atlantic City property since 2021.
The transaction remains subject to regulatory approval, but once completed, Ocean Casino Resort will become a cornerstone of Ilitch Gaming – a unified platform overseeing the company’s gaming, hospitality, and entertainment operations across multiple states.
Chris Ilitch, chairperson of Ilitch Gaming, issued a statement:
“The formation of Ilitch Gaming marks a defining new chapter in the evolution of our gaming and hospitality business. We remain committed to creating memorable experiences for guests, supporting responsible gaming, and serving as a positive economic force in the communities where we operate.”
What this means for Ocean Casino
Ocean Casino Resort spans 20 beachfront acres along the Atlantic City Boardwalk and features 1,860 renovated guest rooms, a 135,000-square-foot casino floor, and multiple dining and entertainment options. The property also operates Fanatics Sportsbook for land-based wagering and betOcean for online gaming in New Jersey.
Since acquiring its initial stake in 2021, Ilitch has supported significant capital investment and operational improvements at the property. Full ownership consolidates decision-making and could position Ocean for enhanced coordination with the company’s other gaming destinations.
Operations continue as normal
Until regulatory approvals are finalized, Ocean Casino Resort will continue operating as usual. No immediate changes are expected for players or employees.
The acquisition represents confidence in Atlantic City’s gaming market and Ilitch’s commitment to maintaining Ocean as a premier Atlantic City casino destination.
In May, the property recorded the third-most revenue in the state, behind Borgata Atlantic City and Hard Rock Atlantic City, producing $46.8 million.
Building a national gaming platform
Once the acquisition is approved, Ilitch Gaming will operate three US casinos: MotorCity Casino Hotel in Detroit, Ocean Casino Resort in Atlantic City, and Scarlet Pearl Casino Resort in Mississippi, which Ilitch is also acquiring through this expansion.
The portfolio is being led by John Policicchio, CEO and chief development officer of Ilitch Gaming. The company is backed by the broader Ilitch Companies empire, which includes ownership of the Detroit Tigers and Detroit Red Wings, alongside Little Caesars and other major brands.
