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Ilitch Companies just lately introduced the formation of a brand new gaming platform with plans to buy a on line casino in Mississippi and broaden its possession of a on line casino in New Jersey.
The new enterprise, referred to as Ilitch Gaming, will oversee the corporate’s gaming, hospitality and leisure companies, the corporate stated in a launch, including that it’ll construct on the success of MotorCity Casino Hotel. The operation of Ilitch Gaming is awaiting regulatory approval.
Chris Ilitch, CEO of Ilitch Companies, described the transfer as a brand new chapter for the corporate’s gaming and hospitality enterprise. He will even function chairperson of Ilitch Gaming.
“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 stated in a press release. “The formation of Ilitch Gaming marks a defining new chapter in the evolution of our gaming and hospitality business. We remain committed to creating memorable experiences for guests, supporting responsible gaming, and serving as a positive economic force in the communities where we operate.”
Along with the launch of Ilitch Gaming, Ilitch Companies announced plans to acquire Scarlet Pearl Casino Resort in D’Iberville, Mississippi, and purchase the remaining ownership stake in Ocean Casino Resort in Atlantic City, New Jersey, from Luxor Capital Group LP. Ilitch Companies has had 50% ownership interest in Ocean Casino Resort since 2021.
Both deals are subject to regulatory approval and customary closing conditions, and each casino is expected to continue operating as usual until the transactions are completed, officials said.
“We are extremely pleased with what our workforce has constructed over the previous decade and grateful for the help we have now acquired from our friends throughout the Gulf Coast,” LuAnn Pappas, chief executive officer of Scarlet Pearl Casino Resort, said in a statement. “We consider Ilitch Gaming shares our dedication to hospitality, service, and group, and we’re assured Scarlet Pearl is positioned for continued success.”
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