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Little Caesars owners becoming a force in casino gaming
The Ilitch family's latest casino acquisitions signal a deeper push into gaming, broadening its reach beyond pizza and sports with a new division dedicated to casinos.
The Ilitch family is best known for owning Little Caesars Pizza, the Detroit Tigers, and the Detroit Red Wings. But Ilitch Holdings Inc. is slowly becoming a force in gaming after two recent casino acquisitions. The family's holding company has bought out the remaining 50% stake in Ocean Casino Resort in Atlantic City and purchased the Scarlet Pearl Casino Resort in Mississippi.
Three casinos in three different states
Marian Ilitch, who cofounded Little Caesars with her late husband, Mike, in 1959, has fully owned MotorCity Casino in Detroit since 2005. The latest addition of Scarlet Pearl Casino and Ocean Casino gives the family a gaming empire spanning three states.
Ilitch Holdings originally paid $175 million for a 50% stake in Ocean Casino in 2021. Luxor Capital, which bought the resort after the previous owner, Bruce Deifik, died in 2019, recently sold its remaining 50% stake to the Ilitches for an unknown price.
Located in D'Iberville, MS, Scarlet Pearl is one of the smaller casinos in the Magnolia State. The financial terms of its recent sale haven't been disclosed.
The birth of Ilitch Gaming
Given its growing casino empire, the family has decided to form a new division called Ilitch Gaming. Chris Ilitch, Marian's son, will head the gambling-focused operation.
"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," said Chris. "The formation of Ilitch Gaming marks a defining new chapter in the evolution of our gaming and hospitality business."
Another stake in online gaming
The Ilitches have been ingrained in the Michigan online casino market for several years. Their MotorCity Casino holds a license with the Michigan Gaming Control Board and is partnered with FanDuel Casino.
Now, it will be running another iGaming operation in the New Jersey online casino industry. Ocean Casino Resort maintains a license with the NJ Division of Gaming Enforcement and has a partnership with PlayStar Casino.
This means the family's new gambling industry arm will include the FanDuel Casino promo code in Michigan and the PlayStar Casino promo code in NJ.
Mississippi doesn't currently regulate and license online casinos. That said, there will be no iGaming component for Scarlet Casino in the immediate future.
Will the Ilitches continue expanding their casino holdings?
The Ilitch family has been expanding its gaming portfolio since buying half of Ocean Casino in 2021. Now, five years later, it has full ownership of Ocean and recently bought Scarlett Pearl Casino.
Considering that it has also formed a gaming division, the Ilitches will likely consider other casino-buying opportunities moving forward. As shown with the Scarlet acquisition, the family is even willing to purchase smaller casinos.
Responsible gambling
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