Ilitch family forms gaming company and agrees Ocean Casino stake purchase

Deals & M&A49 minutes ago

The Ilitch family formed Ilitch Gaming to oversee its casino portfolio and agreed to buy Luxor Capital’s remaining 50% stake in Ocean Casino Resort in Atlantic City. It also agreed to acquire Scarlet Pearl Casino Resort in Mississippi; the transactions and formation of the new company remain subject to regulatory approvals, with financial terms undisclosed.

Pending approvals, the acquisitions would expand the Ilitch family’s casino ownership across Atlantic City and Mississippi.

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Regulation49 minutes ago

New Jersey DGE reports Atlantic City casino profits down 9.3% in Q2

Atlantic City’s nine casinos recorded operating profits of $162.4 million in the second quarter, down 9.3% year on year, according to New Jersey Division of Gaming Enforcement data. Including Caesars Interactive Entertainment New Jersey, the decline was 10.1%; the source also reports first-half gross operating profit fell 15.5% from 2025.

Ilitch family forms gaming company and agrees Ocean Casino stake purchase

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