GGRAsia – Kurt Shotzberger Mohegan’s new VP of financial planning

Kurt Shotzberger Mohegan’s new VP of financial planning

Feb 16, 2024 Newsdesk Industry Talk, Latest News

Mohegan Tribal Gaming Authority, a U.S.-based casino operator, has appointed Kurt Shotzberger (pictured) as its vice president of financial planning and analysis.

In his new role, Mr Shotzberger will be responsible for overseeing budgeting, financial modeling, forecasting, and financial and operational analysis, as well as strategic planning, according to a press release issued by the company on Thursday.

“His work will be instrumental in shaping the economic future of Mohegan, ensuring sustainability and success across all facets of the organisation,” added the release.

Mohegan is the owner and operator of Mohegan Inspire Entertainment Resort in South Korea. The complex’s casino officially opened its doors on February 3, featuring 150 table games, 390 slot machines, and 160 electronic table games encompassing a live-dealer stadium.

The resort, located in Incheon, outside Seoul, also offers non-gaming facilities – including 1,275 hotel rooms, 11 restaurants, and a 15,000-seat arena – which commenced their first-phase operations on November 30.

Apart from its presence in South Korea, Mohegan operates casinos in the U.S. and Canada.

Ray Pineault, Mohegan’s president and chief executive, expressed confidence in Mr Shotzberger’s appointment, stating that his “extensive background in finance and gaming” would bring a “unique perspective and invaluable expertise” to the firm, as quoted in the press release.

According to Mohegan, Mr Shotzberger has more than two decades of experience in finance, including 15 years in the gaming industry. He held senior leadership roles at casino supplier brand IGT and served as vice president of gaming and lodging investment banking with Wachovia Securities, a U.S.-based financial institution.

Mohegan reported earlier this month a 4.6-percent year-on-year increase in net revenues for the quarter ending December 31, 2023, with a US$18.6-million improvement. This growth was attributed to the continued expansion of Mohegan Digital and non-gaming revenues from Mohegan Inspire, said at the time Carol Anderson, the group’s chief financial officer.