The transaction gives Ilitch Gaming full ownership of the Atlantic City resort after first taking a 50% stake in 2021
Ilitch Gaming has completed the acquisition of the remaining 50% ownership interest in Ocean Casino Resort in Atlantic City, New Jersey.
The transaction, first announced in June, expands Ilitch Gaming’s national gaming, hospitality and entertainment portfolio and gives the company full ownership of one of Atlantic City’s major Boardwalk resorts.
Ilitch first entered Ocean Casino Resort in 2021 through an affiliate that acquired a 50% stake in the property. Since then, the company has worked with Ocean’s leadership on guest experience investment, operational performance and long-term growth.
The full acquisition marks another step in Ilitch Gaming’s move from regional operator to a broader national casino and hospitality platform.
John Policicchio, Chief Executive Officer and Chief Development Officer of Ilitch Gaming
“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. 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.”
Ocean Casino Resort spans more than 20 beachfront acres along the Atlantic City Boardwalk. The property includes 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.
The resort also offers dining concepts from Stephen Starr and José Garces, Exhale Spa + Bathhouse, HQ2 Beachclub and Nightclub, and a broad mix of leisure and entertainment amenities.
Its gaming offer includes slots, table games, an Asian gaming pit, retail sports betting through Fanatics Sportsbook and online gaming through betOcean in New Jersey.
The property has become one of Atlantic City’s more visible resort brands in recent years, supported by reinvestment, room renovations and a strong location on the Boardwalk.
The acquisition follows the formation of Ilitch Gaming in June. Ilitch Companies created the platform to oversee its gaming-related businesses and support future growth.
Ilitch Gaming currently oversees MotorCity Casino Hotel in Detroit, Michigan. It will also oversee Ocean Casino Resort in Atlantic City, subject to regulatory approvals.
The company has also announced an agreement for an affiliate to acquire Scarlet Pearl Casino Resort in D’Iberville, Mississippi, subject to regulatory approvals and customary closing conditions.
Together, those moves show a clear expansion strategy. Ilitch Gaming is building a multi-state casino portfolio with assets in Michigan, New Jersey and, if approved, Mississippi.
That strategy fits a wider pattern in the US land-based casino sector. Owners with strong regional properties are looking to create more diversified platforms across gaming, hospitality, entertainment, sports betting and digital casino.
Atlantic City remains a strategically important market for that type of growth. It has a mature casino base, strong regional visitation, online casino leadership through New Jersey’s regulated iGaming market and a competitive sports betting environment.
For Ilitch Gaming, full ownership of Ocean gives it more direct control over investment, operations and long-term positioning.
The transaction may also help streamline decision-making at the property. A single ownership structure can make it easier to align capital plans, brand direction, employee culture and customer experience strategy.
The next phase will be about execution. Ocean already has scale, amenities and market recognition. Ilitch Gaming will need to keep building on that momentum while managing regulatory expectations and competition across Atlantic City.
Responsible gaming, community investment and colleague culture are also central to Ilitch Gaming’s stated model.
The company says its focus is on creating environments where colleagues can thrive, delivering strong guest experiences, achieving operational excellence, advancing responsible gaming and pursuing disciplined long-term growth.
With Ocean now fully acquired, Ilitch Gaming has made Atlantic City a core part of that platform.
The deal strengthens the company’s presence in US gaming and gives it a larger role in one of the country’s most closely watched casino markets.
Image: By Chris6d – Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=97168700
