WAYNE PARRY
This June 28, 2018, file photo shows the exterior of the Ocean Resort Casino in Atlantic City N.J. On Tuesday, 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. (AP photo)
ATLANTIC CITY, N.J. 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.
Associated Press
The Ilitch family, which owns the Little Caesars pizza chain, has agreed to purchase at least half of the ownership of Ocean Casino in Atlantic City, N.J. Previous Next
Wednesday, April 07, 2021 1:00 am
Ilitch family gets slice of casino
WAYNE PARRY | Associated Press
ATLANTIC CITY, N.J. – 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.
POLITICO
Get the New Jersey Playbook newsletter
Email
Sign Up
By signing up you agree to receive email newsletters or updates from POLITICO and you agree to our privacy policy and terms of service. You can unsubscribe at any time and you can contact us here. This sign-up form is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Presented by Uber Driver Stories
Good Wednesday morning!
What does a church do if it can’t afford to pay a pastor a salary? It buys his house from him for $1.65 million $100,000 more than he paid for it two years earlier.
Ilitch family buying half of Atlantic City casino detroitnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from detroitnews.com Daily Mail and Mail on Sunday newspapers.
Atlantic City’s Ocean Casino gets buy-in from owners of Detroit Tigers, Red Wings, Little Caesars chain
Updated 12:06 PM;
Facebook Share
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.