Mohegan Tribe Finishes with Management of Atlantic City’s Resorts This Year

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March 11th, 2024
Back Mohegan Tribe Finishes with Management of Atlantic City’s Resorts This Year

The Mohegan tribe has just unveiled that it will finish the management of Atlantic City’s Resorts casino. The end date is set for the last day of 2024, as announced in the shared disclosure of both companies.

This step means that the deal ends the tribe’s gambling part, Mohegan Gaming Advisors, secured with Resorts in 2012 only a half year after the brand’s co-owner, Dennis Gomes passed away.

This means that Resorts stayed without essential leader who had massive expertise in the industry in the U.S. market.

Mohegan’s flourishing administration of casinos in top markets such as CT and PA spurred the interest of Resorts, which in 1978 turned into the first casino in the US to work outside of the gambling paradise Nevada.

As per the owner’s statement, Morris Bailey:

“Mohegan has been a valuable partner, and we are grateful for their contribution to our success,” We entered into a management agreement with Mohegan at a time when Resorts faced many operational, economic and market challenges. Mohegan brought stability and direction to Resorts by helping to assemble a stellar management team which will remain in place. We are happy that, with Mohegan’s help, Resorts has reached a point where it is able to operate independently.”

What Else Was Unveiled

Another disclosure was made in April, stating that Cowlitz Indian Tribe will finish its six-year deal with the Mohegan Tribe CT, which monitors the activity of ilani casino in Ridgefield. This will be the completion of the contract that lasted seven years.

Based on the 2012 agreement, Mohegan obtained a 10% ownership interest in Resorts, which it will keep. Resorts also turned into the the premiere Atlantic City casino to be held by a Native American tribe.

Ray Pineault, president and CEO of Mohegan expressed his opinion:

“We’re extremely proud of our relationship with Resorts Casino Hotel and what we have helped accomplish. We want to express our deepest gratitude to our Resorts team members, guests and the Atlantic City community for their support and dedication throughout our tenure as manager.”

Mark Giannantonio, Resorts president, mentioned that Mohegan has an incredible partnership with them in the last decade.

Resorts collected $130.8 million in revenue in 2012, based on the state gambling regulators. That also improved to $163m last year.

Only in the time when Mohegan managed Resorts, the casino secured an agreement with DraftKings sports betting and introduced online operation — Resorts Digital, which brought more $822m last year, a raise of more than 50% from the last year.

When it comes to cross-marketing efforts between Resorts and Mohegan casinos, this will also be finished this year, but Resorts wants to introduce all the new marketing programs.

Mohegan Gaming Advisors is a part of the Mohegan Tribal Gaming Authority.

It is also worth noting that Mohegan holds casinos in WA and Nevada, Niagara Falls, Canada, and Inchon, South Korea. It also holds the Connecticut Sun WNBA squad.

More About Resorts Casino

Resorts Casino Atlantic City is a prestigious venue open 24 hours a day, 7 days a week, featuring over 1,300 slot machines and exciting table games across than 80,000 square feet of space. You can choose top games, enjoy some of the best promotions, or pick the high roller experience, anything that you prefer. Resorts Casino also boasts online platform for those who prefer web casino experience.

Source:

“Mohegan tribe to end management of Atlantic City’s Resorts casino at year’s end”, columbian.com, February 27, 2024.

“last day of 2024”

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