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Ilitches buying half of Atlantic City casino, owner says
Ilitches buying half of Atlantic City casino, owner says
Wayne Parry
The Ocean Casino Resort in Atlantic City, N.J.
ATLANTIC CITY, N.J. The Ilitch family, which owns professional sports teams, a nationwide pizza chain and a casino in Detroit, is buying into an Atlantic City casino, its hedge fund owner said Tuesday.
Officials of New York-based Luxor Capital Group LP told The Associated Press they have reached a deal with the Ilitch organization to acquire, through an affiliate, up to half the ownership of the Ocean Casino Resort.
The Ilitch organization, which owns the Detroit Tigers baseball and Red Wings hockey teams, the Little Caesars pizza chain and Detroit s MotorCity Casino Hotel, has already applied to New Jersey regulators for interim approval to own part of the casino.
Detroit s Ilitch family buying half of Atlantic City casino
WAYNE PARRY, Associated Press
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1of6FILE - This June 28, 2018, file photo shows the exterior of the Ocean Resort Casino in Atlantic City N.J. On April 6, 2021, Luxor Capital, the New York hedge fund that owns the casino, told The Associated Press it is selling an ownership interest of up to 50% in the casino to the Ilitch family of Detroit, which owns professional sports teams, the Little Caesars pizza chain, and a Detroit casino.Wayne Parry/APShow MoreShow Less
2of6FILE - In this June 20, 2019, file photo, a roulette dealer waits for bets to be placed at the Ocean Casino Resort in Atlantic City, N.J. On April 6, 2021, Luxor Capital, the New York hedge fund that owns the casino, told The Associated Press it is selling an ownership interest of up to 50% in the casino to the Ilitch family of Detroit, which owns professional sports teams, the Little Caesars pizza chain, and a Detroit casin
Atlantic City’s Ocean Casino gets buy-in from owners of Detroit Tigers, Red Wings, Little Caesars chain
Updated 12:06 PM;
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ATLANTIC CITY A New York hedge fund said Tuesday it is selling as much as half its ownership of Atlantic City’s Ocean Casino to the Ilitch family, which owns professional sports teams, a nationwide pizza chain and a casino in Detroit.
Officials of Luxor Capital Group LP told The Associated Press they have reached a deal with the Ilitch organization to acquire, through an affiliate, up to half the ownership of the casino.
Ilitch, which owns the Detroit Tigers baseball and Red Wings hockey teams, the Little Caesars pizza chain, and Detroit’s MotorCity Casino Hotel, has already applied to New Jersey regulators for interim approval to own part of the casino.
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