Ocean Casino Resort Sold to Little Caesars Owners

The Ilitch family, part owners of Ocean Casino Resort, has reached a deal to buy the other 50% of the casino and become the full owners of the casino.

The terms of Ilitch's deal for the Ocean Casino have not been made public. The company initially acquired a 50% stake in Ocean Casino from New York hedge fund Luxor Capital Group for $175 million in 2021.

The deal is subject to regulatory approval.

Owners of Little Caesars Pizza, Pro Sports Temas, Buys Ocean

Will Ocean Casino soon have a Little Caesars concession?

The Ilitch family, the owners of the world's third biggest pizza chain, Little Caesars, behind only Domino's and Pizza Hut, has operations in 29 countries.

The family has set up a new arm of their company, calling it Ilitch Gaming.

The Ilitch family already owns the MotorCity Casino in Detroit and has agreed to acquire the Scarlet Pearl Casino Resort in Mississippi.

Ilitch Gaming will be chaired by Chris Ilitch, son of Little Caesars founders Marian Ilitch and the late Mike Ilitch.

"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 said.

"The formation of Ilitch Gaming marks a defining new chapter in the evolution of our gaming and hospitality business."

But that's not all the family owns by a long shot.

Ilitch Cos. owns a variety of businesses across the gaming, food, sports, entertainment, real estate, and hospitality sectors, including the Detroit Tigers baseball team and the Detroit Red Wings hockey team,

Ocean Casino Changing Fortunes

You have to be impressed by the transformation of Ocean Casino Resort.

It was only eight years ago that the rebranded hotel and casino reopened in the shuttered Revel Casino and turned into one of Atlantic City's most popular gaming centers.

For the first three months of 2026, through March 31, Ocean Casino Resort reported $3.5 million in net income and $115.8 million in net revenue.