Ilitch Gaming will comprise MotorCity Casino, Ocean Casino, and Scarlet Pearl Casino
Ilitch Companies is expanding its casino interests with the acquisition of Scarlet Pearl Casino in Mississippi and Ocean Casino in New Jersey.
The separate agreements will see Ilitch acquire the remaining 50 per cent stake that it does not already own in Atlantic City’s Ocean Casino, and expand into its third US gaming market with the acquisition of Pearl Casino Resort in D’Iberville, Mississippi.
Both transactions remain subject to regulatory approvals and customary closing conditions.
Upon completion, the two properties will join Ilitch Companies’ MotorCity Casino (Illinois) in a newly formed company, Ilitch Gaming.
MotorCity Casino chief executive John Policicchio will serve as CEO and chief business development officer of Ilitch Gaming, with Ilitch Companies CEO Chris Ilitch serving as chairman. Bruce Dall, president of MotorCity Casino, has been named vice chair.
Chris Ilitch said the new company builds on the legacy of Marian Ilitch, co-founder of Little Caesars with her late husband Mike, who played a leading role in the development of commercial gaming in Detroit through her ownership of MotorCity Casino Hotel.
“My mother Marian Ilitch’s vision for MotorCity Casino Hotel and our success in Detroit over nearly three decades is the inspiration for what comes next,” Ilitch added. “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.”
Policicchio commented: “We are excited to build on the success of MotorCity Casino Hotel and Ocean Casino Resort and welcome Scarlet Pearl Casino Resort to the Ilitch Gaming portfolio. Scarlet Pearl has built something special over the past decade, and we look forward to supporting its continued success.”
Scarlet Pearl Casino Resort chief executive LuAnn Pappas said she was incredibly proud of what her team has built over the past decade. “We believe Ilitch Gaming shares our commitment to hospitality, service, and community, and we are confident Scarlet Pearl is positioned for continued success.”