Transaction expands Ilitch Gaming’s portfolio, which also includes MotorCity Casino in Michigan
Ilitch Gaming has completed its acquisition of the remaining 50 per cent ownership interest in Ocean Casino Resort in Atlantic City, New Jersey.
The transaction was first announced in June and gives Ilitch Gaming full ownership of the New Jersey casino, after the company acquired an initial 50 per cent ownership interest in 2021.
“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,” said John Policicchio, CEO and chief development officer of Ilitch Gaming. “Atlantic City remains one of the country’s most important gaming and hospitality markets, and achieving full ownership of Ocean represents an important milestone. We look forward to working with our Ocean colleagues to build on the momentum they have created.”
Spanning over 20 beachfront acres along the Atlantic City Boardwalk, Ocean Casino Resort features 1,860 renovated guest rooms and suites, a 135,000 square-foot casino floor, a 4,500-seat entertainment venue, and more than 160,000 square feet of meeting and convention space.
Ilitch Gaming was established in June by Ilitch Companies as a dedicated dubsidiary to oversee the organization’s gaming-related businesses and support future growth initiatives.
The business also owns and operates MotorCity Casino Hotel in Detroit (Michigan), with Scarlet Pearl Casino Resort in D’Iberville (Mississippi) soon to be added to its portfolio, subject to regulatory approvals and customary closing conditions.