Mohegan Beefs Up Corporate Team for 2024
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Mohegan, the owner, developer and manager of entertainment resorts in the U.S., Canada, and Northern Asia – including Mohegan Pennsylvania – announced a corporate shuffling that the company says will give them a competitive edge as they head into 2024.
Joffre Wells has joined the executive team as VP of Capital Markets, Investor Relations and Corporate Treasurer, Kelly Leung is promoted to Sr. VP of International Marketing, and Kelly Sullivan is promoted to VP of People Operations.
Wells to Oversee Capital Planning
“Our leadership at Mohegan is as strong as ever as we head into 2024 where we’ll meet new challenges and evolve our brand further,” said Ray Pineault, President & CEO of Mohegan, in a statement.
Wells will oversee Mohegan’s capital planning and will concentrate on investor and banking relationships. Prior to coming to Mohegan, Wells was a Global Macro Trader for Brandywine Global in Philadelphia, PA, and was also a Global Rates Trader – Vice President for BlackRock in New York.
Leung has been involved in Asian marketing initiatives at Mohegan Sun in Connecticut, and will retain those responsibilities, but his role will expand to include overseeing marketing efforts for Mohegan’s international marketing portfolio, which includes the company’s new INSPIRE Entertainment Resort in Incheon, South Korea, which opened in November.
In her new role, Sullivan will lead the Corporate People Operations team for all recruiting, hiring, onboarding, engagement, performance management and other high level internal business operations for Mohegan.
Mohegan Pennsylvania Reports Net Revenue Decrease
In December Mohegan announced a 7.6 per cent increase in Q4 2023 net revenues (three months ended Sept. 30) - $444.3 million, an increase of $31.3 million compared to the prior-year period. The growth at Mohegan Digital was a big part of that – net revenues there increased $44.2 million in Q4 compared to the prior-year period due to an accounting adjustment.
Mohegan Pennsylvania reported a decrease in net revenues of $1.9 million in Q4 2023 compared to the prior-year period due to lower gaming volumes, which were partially offset by strong food, beverage and hotel revenues. Potential expansion into the PA online casino market could help improve the numbers in this state.
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