Mohegan Tribal Gaming Says CEO Hartmann Leaves Amid Job Cuts
Robert J. Soper, president and general manager of Mohegan Sun at Pocono Downs, was named president and CEO, effective Oct. 22, the tribal authority said yesterday in a regulatory filing, without saying why Hartmann left. The company expects costs of $8 million to $10 million as a result of the job cuts.
Another 45 jobs will be eliminated by the end of October, according to the authority, which blamed the cuts on business and market conditions. Slot machine revenue has declined every month this year from a year earlier, the closely held company told the Norwich Bulletin in Connecticut last week.
In March, the tribal authority completed a refinancing of its debts, extending maturities for about $800 million of long- term obligations. Last month, the New Jersey Casino Control Commission approved an agreement for Mohegan Gaming Advisors to manage and own a portion of the Resorts Casino Hotel in Atlantic City.
The Mashantucket Pequot Tribal Nation, owner of the larger Foxwoods Resort Casino in southeastern Connecticut, reached a preliminary agreement with lenders in August to restructure $2.2 billion in debt. The casino reported last month that August revenue fell 3.3 percent.
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