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    Sunday, April 21, 2024

    Mohegan to stop managing Atlantic City casino at end of the year

    Mohegan, the tribal gaming and entertainment company that owns Mohegan Sun, announced Friday it will stop managing Resorts Casino Hotel in Atlantic City, N.J., at the end of the year.

    Mohegan will retain its 10% ownership interest in Resorts, the company said in a news release.

    “We’re extremely proud of our relationship with Resorts Casino Hotel and what we have helped accomplish,” Ray Pineault, Mohegan’s president and chief executive officer, said in the release. “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 entered into an agreement to manage the property and acquired its ownership stake in 2012, making Resorts the first Native American-operated casino in Atlantic City.

    Resorts had debuted in 1978, the first U.S. casino to open outside Nevada.

    “Mohegan has been a valuable partner, and we are grateful for their contribution to our success,” Morris Bailey, owner of Resorts Casino Hotel, said.

    “We entered into a management agreement with Mohegan at a time when Resorts faced many operational, economic and market challenges,” Bailey said. “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.”

    Since 2012, Resorts has undergone $125 million in improvements, including a new convention center, a Jimmy Buffett’s Margaritaville-themed entertainment complex, a renovated boardwalk façade, major hotel room refurbishments, a new casino floor reconfiguration and new retail shops.

    Mohegan will continue to manage Resorts through the end of December.

    It was announced last spring that Mohegan’s contract to manage the Cowlitz Indian Tribe’s ilani Resort Casino in Ridgefield, Wash., will expire this July. Mohegan helped develop the casino and has managed it since its opening in 2017.

    b.hallenbeck@theday.com

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