Mohegan Tribal Gaming Authority Head Resigns
UNCASVILLE, Conneticut – The Mohegan Tribal GamingAuthority, or the Authority, the operator of a gaming and entertainmentcomplex located near Uncasville, Connecticut, known as Mohegan Sun, and aharness racetrack located in Plains Township, Pennsylvania, known asMohegan Sun at Pocono Downs, announced today that its Chief ExecutiveOfficer, William Velardo, has resigned in order to accept an offer ofemployment in his original home of Las Vegas, Nevada. Mitchell GrossingerEtess, who currently serves as the President and Chief Executive Officer ofMohegan Sun, will assume additional duties as Chief Executive Officer ofthe Authority on May 4, 2006.
Bruce Bozsum, Chairman of the Authority's Management Board, thanked Mr.Velardo for his nearly eleven years of service and his many contributionsto the Authority, including establishing the initial Mohegan Sun businessstrategy in 1996, leading the development of Mohegan Sun's $1.1 billionexpansion in 2001 and his devotion to problem gambling awareness. "Bill hasbeen with the Authority since we began our gaming operation at Mohegan Sunand has helped guide us to a preeminent position in the U.S. gaming market.He has overseen tremendous growth in our operations, led ourdiversification activities and has helped to put in place a superiormanagement team that will continue to serve the Authority very well overthe coming years. We wish Bill many years of success in his new endeavors."
Mr. Etess has served in various capacities with the Authority since1995 and has over 25 years of experience in the gaming and hospitalityindustries. Prior to being named President and Chief Executive Officer ofMohegan Sun in August 2004, Mr. Etess served in various marketing positionswith the Authority, including as Executive Vice President of Marketing from1999 until August 2004. Before joining the Authority, Mr. Etess worked invarious capacities at Players Island, Trump Plaza Hotel and Casino and ClubCorporation of America and was General Manager of Grossinger's Hotel. Inhis new position, Mr. Etess will assume a greater role in the developmentof Mohegan Sun at Pocono Downs, as well as provide overall direction andsupervision to the Authority's other development projects and continuingleadership at Mohegan Sun.
"Mitchell has provided outstanding leadership at Mohegan Sun and hasplayed a major role in developing our brand identity and helping toconsistently improve our product offerings and patron service. In hiscurrent position as President and CEO of Mohegan Sun, Mitchell has helpedto energize our over 9,000 employees and has been an integral force inimproving our patron experience. We are delighted that he has agreed toassume the additional position of CEO of the Authority," Bozsum said.
In addition, the Authority announced that Jeffery E. Hartmann,currently the Executive Vice President and Chief Operating Officer ofMohegan Sun, will assume additional responsibilities as Chief OperatingOfficer of the Authority. Mr. Hartmann joined the Authority in December1996 and served in various capacities, including as Executive VicePresident, Finance and Chief Financial Officer from 1999 through August2004. Mr. Hartmann previously worked for Foxwoods and at Coopers & Lybrand,LLP. As COO of the Authority, Mr. Hartmann will assist Mr. Etess with thedevelopment of Mohegan Sun at Pocono Downs and provide additionalsupervisory support for the Authority's finance team and developmentactivities, including projects with the Menominee Indian Tribe of Wisconsinin Kenosha, Wisconsin and the Cowlitz Indian Tribe in Clark County,Washington.
"Jeff has been instrumental in our success over the last decade," saidLynn Malerba, Vice Chairman of the Authority's Management Board. "Jeff wasan outstanding CFO, and he has been able to apply his energy and financialdiscipline very effectively over the last year and a half as the ChiefOperating Officer of Mohegan Sun, contributing significantly to our costcontrol efforts and margin improvement. We look forward to hiscontributions in his expanded role leading operations in all of ourprojects," continued Malerba.
Leo Chupaska, currently the Chief Financial Officer of the Authority,also will assume the position of Chief Financial Officer of Mohegan Sun,which has been vacant since December 2005. Mr. Chupaska, who has served asthe Authority's CFO since August 2004 and previously was the ChiefFinancial Officer for The Mohegan Tribe, will retain primary responsibilityfor the Authority's finance department and development team, in addition tohis new duties at Mohegan Sun.
"We have been fortunate over the last eleven years to have a talentedand very cohesive senior management team leading the Authority. We areextremely excited that we will be able to continue that tradition withMitchell, Jeff and Leo leading our outstanding operating and developmentteams," concluded Bozsum.
2006-04-27
