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Little Caesars Pizza parent company sets up a new gambling division
The company already has ownership in the MotorCity Casino in Detroit
A beloved pizza chain has announced it is set to take full control of Atlantic City's Ocean Casino.
The Ilitch family, founders of the Little Caesars pizza chain, have set up a new arm of their company, calling it Ilitch Gaming.
The company has agreed to acquire Scarlet Pearl Casino Resort in Mississippi and purchase the remaining 50% stake in Ocean Casino Resort from Luxor Capital, giving it the full ownership. The deal is subject to regulatory approval.
The Ilitch family already has roots in Detroit's casino sector, having developed the MotorCity Casino through a partnership with Las Vegas-based Mandalay Resort Group for $525 million. Ilitch bought out Mandalay Bay’s 75% stake in 2005.
The family expanded into Atlantic City in 2021 through a $175 million investment in Ocean Casino Resort.
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."
You'd be forgiven if you were unaware that Little Caesars had a stake in the gambling sector. Most folks are familiar with the catchy "Pizza, Pizza" ads that play regularly on television.
Little Caesars is generally considered the third-largest pizza chain in the world behind Domino's and Pizza Hut, with operations in more than 29 countries.
Just this week, Yum! Brands announced they will be selling off the Pizza Hut brand.
- Aaron Goldstein, Gambling911.com
