Ilitch Gaming Completes Ocean Casino Resort Acquisition
United States.- 5 August 2026 | www.zonadeazar.com Ilitch Gaming has completed the acquisition of the remaining ownership interest in Ocean Casino Resort, securing full ownership of the Atlantic City, New Jersey property.
The transaction brings the resort entirely under the new national gaming, hospitality and entertainment platform established by the Ilitch family.
News Details
The organisation had owned 50% of Ocean Casino Resort since 2021, when it invested approximately USD 175 million and began sharing control of the property with Luxor Capital Group.
Through the acquisition of the remaining 50% interest, Ilitch Gaming now assumes full control of the resort. The financial terms of the latest transaction were not disclosed.
The agreement was announced in June and remained subject to the relevant regulatory approvals and customary closing conditions.
Industry Context
Ocean Casino Resort is located on the Atlantic City Boardwalk and operates as one of the city’s leading integrated casino properties.
The resort originally opened as Revel in 2012 following an investment of approximately USD 2.4 billion. After experiencing closures and several financial restructurings, it reopened as Ocean Casino Resort and gradually improved its operating performance.
Since the Ilitch family acquired its initial stake in 2021, the property has received investment aimed at renovating hotel rooms, expanding its food, beverage and entertainment offering and strengthening its casino operations.
Ocean Casino Resort will join a portfolio that also includes MotorCity Casino Hotel in Detroit. Ilitch Gaming has additionally agreed to acquire Scarlet Pearl Casino Resort in Mississippi, subject to the necessary approvals.
Next Steps or Impact
The acquisition will allow Ilitch Gaming to directly manage Ocean Casino Resort’s investment, operating and growth strategy.
The company will seek to build on the property’s recovery and reinforce its position within the competitive Atlantic City market while developing a multi-state gaming and hospitality platform in the United States.
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