Ilitch Gaming Completes Full Acquisition of Ocean Casino Resort in Atlantic City

Ilitch Gaming has completed its acquisition of the remaining 50% ownership interest in Ocean Casino Resort in Atlantic City, giving the company full control of the beachfront property. The deal, first announced in June, was approved by the New Jersey Division of Gaming Enforcement and finalized through Ilitch affiliates OCR Investment, LLC and OCRM, LLC.

Ilitch Gaming, chaired by Chris Ilitch, is the newly formed gaming arm of the Ilitch family, the founders of the Little Caesars pizza chain. The company initially acquired a 50% stake in Ocean Casino Resort back in 2021 through a partnership with Luxor Capital Group, and this latest transaction brings the entire property under one ownership umbrella for the first time.

A Bigger Footprint on the Atlantic City Boardwalk

Ocean Casino Resort sits on more than 20 beachfront acres along the Atlantic City Boardwalk and includes 1,860 renovated guest rooms and suites, a 135,000-square-foot casino floor, a 4,500-seat entertainment venue, and over 160,000 square feet of meeting and convention space. The property posted $43.5 million in casino win in June, the third-best total among Atlantic City casinos for the month, according to figures from the New Jersey Division of Gaming Enforcement.

John Policicchio, Chief Executive Officer and Chief Development Officer of Ilitch Gaming, said the company has spent the past several years working alongside Ocean’s leadership team to strengthen the resort’s operations and guest experience. “Ocean Casino Resort has become an exceptional resort destination through the dedication of our talented colleagues, sustained investment in the property, and a commitment to the guest experience,” Policicchio said, adding that Atlantic City “remains one of the country’s most important gaming and hospitality markets.”

Part of a Larger Consolidation Push

The Ocean Casino Resort deal follows the formation of Ilitch Gaming in June, when Ilitch Companies launched the platform to oversee its gaming-related businesses and support future growth. Ilitch Gaming already oversees MotorCity Casino Hotel in Detroit and will now also run Ocean Casino Resort, pending final regulatory sign-off on management operations.

The company also has an agreement in place to acquire Scarlet Pearl Casino Resort in D’Iberville, Mississippi, which remains subject to regulatory approvals and customary closing conditions. Financial terms of the Ocean Casino Resort transaction were not disclosed. Together, the three properties are expected to form the foundation of Ilitch Gaming’s multistate casino and entertainment portfolio as the company looks to expand its presence beyond Michigan.

For bettors and casino visitors tracking the shifting ownership landscape in markets like New Jersey, deals like this one often bring renewed investment in amenities and promotions — the kind of activity worth watching alongside the state’s broader online casinos in New Jersey market as operators jockey for position heading into the fall.