New Jersey gaming regulators have approved a new management agreement between Connecticut’s Mohegan tribe and Atlantic City’s Resorts Casino Hotel.
The Mohegan tribe, which operates the Mohegan Sun casino in its home state as well as the Mohegan Sun Pocono in Pennsylvania, began managing casino operations at Resorts in 2012 under its Mohegan Gaming Advisors subsidiary. The original management deal allowed the tribe to purchase a 10% stake in the property, with an option to purchase an additional 15% stake at a future date.
The new agreement scraps that 15% option but allows the Mohegan tribe to acquire an interest in Resorts’ online gambling operation. ResortsCasino.com launched in New Jersey’s regulated online gambling market this spring and the tribe launched its own MoheganSunCasino.com site this summer using Resorts’ online license.
On Wednesday, the New Jersey Casino Control Commission announced it had signed off on the new agreement, which extends the relationship through 2019. Commission chairman Matthew Levinson said the deal between Resorts and Mohegan Gaming Advisors had “proven to be a valuable tool in strengthening Resorts’ financial position … ultimately furthering the ongoing transition of Atlantic City into a destination resort.”
The Mohegan Tribal Gaming Authority was named to the American Gaming Association’s board of directors last month, along with representatives from Rush Street Gaming and Detroit’s MotorCity Casino. The MTGA’s appointment marked the second tribal gaming member to join the AGA’s board, following the appointment of Florida’s Seminole tribe in January.
