Mohegan Sun Leaving Atlantic City, Ending Partnership with Resorts Hotel Casino
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Mohegan Sun, the Connecticut-based tribal casino operator, announced it will leave Atlantic City after December 2024.
On Friday, the company announced its partnership with Resorts Casino Hotel in the city is ending.
“We’re extremely proud of our relationship with Resorts Casino Hotel and what we have helped accomplish,” said Ray Pineault, President & CEO of Mohegan. “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.”
In 2012, Mohegan purchased a 10% ownership stake in Resorts and became part of the management infrastructure. This came just two years after Morris Bailey and Dennis Gomes bought Resorts for $31.5 million in the wake of the Great Recession and casinos coming to Pennsylvania.
Mohegan is Still Retaining Its Ownership Stake
Despite the partnership ending, they’ll retain their 10% ownership stake.
“Mohegan has been a valuable partner, and we are grateful for their contribution to our success,” said Morris Bailey, owner of Resorts Casino Hotel, a brand that also offers an NJ online casino. “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.”
“I want to thank Ray and the leadership team at Mohegan for the outstanding partnership over the past decade,” said Mark Giannantonio, President & CEO of Resorts Casino Hotel. “As we embark on this new chapter, the Resorts team is committed to continuing to provide what we have become known for, an exciting innovative casino resort whose team members deliver unparalleled service and an exceptional customer experience.”
Upon entering management, Mohegan and Bailey brought in Mark Giannantonio as president and CEO in January 2013. He made sure to let Resorts patrons know everything would stay the same regarding what they expected when they visited.
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