Mohegan Gaming & Entertainment (MGE) has announced Mario Kontomerkos is to step down as its chief executive at the end of the month.
Kontomerkos will officially move aside from the role on March 31, with current chief operating officer Ray Pineault to step in as interim chief executive, subject to regulatory approvals.
Kontomerkos joined MGE in September 2011 as chief financial officer, remaining in the role until October 2017, after which he went on to serve as CEO.
“During his tenure with the organisation, first as CFO and more recently as CEO, Mario played a critical role in the growth and success of the organisation,” Mohegan Tribe chairman James Gessner, Jr. said.
“We thank Mario for his many years of service to the Tribe and MGE, more recently navigating the company successfully through the ongoing global pandemic as well as a major refinancing earlier this year.”
Pineault has over 20 years of experience with MGE, having served as regional president at MGE and president and general manager of its flagship Mohegan Sun property in Connecticut.
“Ray has served his Tribe for over two decades in various roles and capacities, and we look forward to his continued guidance and experience as we search for a new corporate leader,” Gessner said.
Meanwhile, MGE has also announced the appointment of Carol Anderson as its new chief financial officer, with a remit to help to guide MGE through a period of strategic development and growth.
Anderson joins from Scientific Games, where she served most recently as senior vice president for the treasury, capital markets and associate general counsel.
Prior to this, Anderson had spells as an associate for Latham & Watkins, Lehman Brothers and Weil, Gotshal & Manges.
“Carol’s experience will be key in continuing to promote MGE as a worldwide industry leader in integrated resort entertainment and assisting to steer the organisation through this next chapter of development and growth,” Gessner said.
Earlier this month, the Mohegan Tribe and Connecticut Governor Ned Lamont struck an agreement that will see the tribe permitted to launch new gambling products, including sports betting and igaming, in the state.
Today, the Mashantucket Pequot Tribe, which operates Foxwoods, struck a similar deal, while taxes for Mohegan’s agreement were lowered for the first five years so both tribes would operate at the same tax rate.