Mohegan Gaming names new chief financial officer
Mohegan — Mohegan Gaming & Entertainment has announced the hiring of a new chief financial officer, Drew Kelley, filling a position left vacant in October when Mario Kontomerkos was promoted to chief executive officer.
Kelley, 41, previously served as CFO and then as interim CEO and a director of ARC Group Worldwide Inc., a publicly traded manufacturer of precision metallurgic products and advanced 3D printing. He was with ARC Group from October 2013 to May 2018, and before that spent more than a decade working in investment banking and equity research with Wall Street firms, including Merrill Lynch & Co.; Bear, Stearns & Co. Inc. and Jefferies LLC.
While on Wall Street, Kelley advised on and led transactions with numerous gaming companies, and also served as adviser to several tribal gaming and entertainment companies, according to a notice MGE posted on the website of the U.S. Securities and Exchange Commission.
Kelley had served as ARC Group’s interim CEO since June 2017. Alan Quasha, chairman of the company’s board of directors, announced early last month that Kelley was resigning.
“Drew has completed his primary task of helping ARC right-size its cost structure and has found a significant new opportunity,” Quasha said in a statement issued at the time. “… We are happy that he has found a great new home.”
Kelley has a bachelor of arts degree in business from UCLA.
Under an offer letter, Kelley will receive an annual base salary of $700,000 and a sign-on bonus of $300,000, and will be entitled to participate in MGE’s incentive compensation program, payable at the discretion of MGE’s management board, the notice says. The offer letter is contingent on the execution of a mutually agreeable employment agreement between Kelley and the company.
In addition to its flagship, Mohegan Sun, MGE owns and operates Mohegan Sun Pocono in Wilkes-Barre, Pa., and manages Resorts Casino Hotel in Atlantic City; ilani Casino Resort in La Center, Wash.; and Paragon Casino Resort in Marksville, La. It's also pursuing an integrated resort in South Korea and, in a joint venture with the Mashantucket Pequot Tribe, plans to build a casino in East Windsor.