Mohegan Tribe has announced its intention to stop managing the landmark Resorts Casino Hotel in Atlantic City by the end of 2024. This decision marks the end of a partnership that began over a decade ago.
In 2012, in the wake of casino co-owner Dennis Gomes’s passing, Mohegan Sun US and Resorts Casino Hotel forged a collaboration. Leadership issues riddled this period for the casino, demanding a strong management strategy. Mohegan Gaming Advisors, the gambling arm of the casino, stepped in to fill this void.
Morris Bailey, the owner of Resorts, has not been shy in expressing his appreciation for their efforts during these critical times:“Mohegan has been a valuable partner, and we are grateful for their contribution to our success,” he stated.
Bailey also emphasized their role in bringing stability and direction to Resorts, notably in assembling a great management team:
“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 that will remain in place. We are happy that, with Mohegan’s help, Resorts has reached a point where it can operate independently.”
Despite stepping back from its managerial role, Mohegan will maintain a 10% ownership stake in Resorts Casino Hotel.
Mohegan Tribe has announced the end of its management tenure at Resorts Casino Hotel. This decision concludes a collaboration that began in 2012, following the death of Dennis Gomes, an influential gambling executive and Resorts’ co-owner. Hence, his departure has left a void in leadership and strategic direction, requiring the Mohegan Sun Casino’s intervention to ensure Resorts’ survival and expansion.
Under the stewardship of Mohegan Gaming Advisors, Resorts Casino Hotel witnessed remarkable economic growth. Ray Pineault, president and CEO of Mohegan, reflected on the partnership’s success, stating:
“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.”
This period of collaboration saw Resorts’ revenue climb from $130.8 million in 2012 to $163 million in 2023, according to state gambling regulators. A significant contributor to this growth was the establishment of Resorts Digital. Through a partnership with DraftKings sportsbook, its profits soared to over $822 million last year, marking an over 50% increase from the previous year.
As the partnership draws to a close, Resorts is preparing to implement more innovative marketing strategies to continue its trajectory of growth and market leadership in Atlantic City.
The Mohegan Sun Casino NJ acquisition of a 10% stake in Resorts Casino Hotel was undoubtedly groundbreaking. It marked the first time an Atlantic City casino was owned by an Indian Tribe.
Looking back, the collaboration between Mohegan Tribe and Resorts has proven to be immensely successful. Namely, the expertise of Mohegan has played a critical role in overcoming the market’s challenges.
Mark Giannantonio’s role as president and chief executive officer began shortly after Mohegan’s entry. He has expressed deep appreciation for the partnership in Friday’s press release:
“I want to thank Ray and the Mohegan leadership team for an outstanding decade of partnership. As we move forward, the Resorts team remains dedicated. We aim to continue our legacy of providing an exciting, innovative casino resort. Our team members are committed to delivering unparalleled service and an exceptional customer experience.”
The Mohegan Tribe, through its operational arm Mohegan Gaming Advisors, has broadened its horizons beyond the borders of NJ. This expansion has seen the tribe’s influence extend to international markets, building on the foundation of their Mohegan Sun online gambling success. These included notable operations in South Korea and Canada.
The international success of Mohegan is further illustrated by the Mohegan INSPIRE Entertainment Resort in South Korea. This ambitious project recently received a five-star rating from the Korea Tourism Association. Achieving this rating was no small feat; it required a rigorous assessment that evaluated the quality of the facility, hygiene standards, and service levels.
All in all, the impact of Mohegan Tribe at Resorts Casino Hotel in Atlantic City has been profound. Under their management, the casino saw significant economic growth and strategic innovations, such as the introduction of Resorts Digital. As Mohegan Gaming Advisors transitions away from its management role at Resorts, their record of strategic expansion and dedication to greatness in the gaming and entertainment industries lives on.
