'We look forward to continuing to grow Ocean in partnership with the Ilitch organization for years to come. 'We are extremely excited about the proposed investment by the Ilitch organization, which, if approved, will give Ocean access to growth capital and provide a strategic partner to Luxor,' the hedge fund said in a statement. The amount of the Ilitch family's investment was not disclosed. He said in January he had lost about 300 million. The deal would close after all regulatory approvals have been obtained. Icahn, who also owns Atlantic Citys Tropicana Casino and Resort, said he decided one casino in town is enough. 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. 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. I drove from Wildwood to Atlantic City only going through shore towns, it took over 2 hours. It boggles my mind that there are tons of empty lots right off the beach. When youre looking for the hottest upcoming events in Atlantic City, Ocean Casino resort that brings gaming, dining, drinks and live event performances together under one roof. I'm totally enthralled by the whole area down there.

(AP) - 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. I stayed at the Ocean's Casino and Flagship over the last two days.

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