USA.- February 26, 2024 www.zonadeazar.com [1] Mohegan, the tribal gaming and entertainment company that owns Mohegan Sun, revealed on Friday that it will cease managing Resorts Casino Hotel in Atlantic City, N.J., at the close of this year.
Mohegan will maintain its 10% ownership stake in Resorts, as stated in the company’s press release.
Ray Pineault, Mohegan’s president and chief executive officer, expressed, “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.”
Mohegan initially entered into an agreement to oversee the property and acquired its ownership interest in 2012, marking Resorts as the first Native American-operated casino in Atlantic City. Resorts had originally opened its doors in 1978, becoming the first U.S. casino to operate beyond Nevada.
Morris Bailey, owner of Resorts Casino Hotel, acknowledged Mohegan as a valuable partner and expressed gratitude for their contribution to Resorts’ success. He noted, “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.”
During Mohegan’s management tenure since 2012, Resorts underwent $125 million in enhancements, encompassing a new convention center, a Jimmy Buffett’s Margaritaville-themed entertainment complex, a renovated boardwalk façade, significant hotel room refurbishments, a reconfigured casino floor, and new retail shops.
Mohegan will oversee Resorts until the conclusion of December. It was previously announced last spring that Mohegan’s management contract for the Cowlitz Indian Tribe’s ilani Resort Casino in Ridgefield, Wash., will conclude in July. Mohegan played a pivotal role in developing the casino and has been overseeing its operations since its opening in 2017.
Edited by: @MaiaDigital [2] www.zonadeazar.com [1]