U.S. regional tribal casino operator Mohegan Gaming and Entertainment announced on Tuesday that it has appointed Mario Kontomerkos (pictured) as the firm’s new chief executive, effective from October 16. The company – also known as Mohegan Sun – is one of the investors in a new casino resort at Incheon, near South Korea’s capital Seoul.
Mr Kontomerkos had served as Mohegan Sun’s chief financial officer since September 2011. He worked previously in financial and research roles with companies including Penn National Gaming, J.P. Morgan Securities, Lehman Brothers and PricewaterhouseCoopers LLP.
Mr Kontomerkos was appointed to replace Bobby Soper, who resigned as president and chief executive of the company in February.
The company said that Mr Kontomerkos will oversee all day-to-day operations for Mohegan Sun, “including ongoing brand growth”.
“Having served as a senior executive for Mohegan Gaming and Entertainment for nearly six years, Mario has, in his role as chief financial officer, actively supported Mohegan’s development of new opportunities in the United States and abroad,” company chairman Kevin Brown said in a statement included in Tuesday’s announcement.
Commenting on his appointment, Mr Kontomerkos said: “Due to the incredible efforts of a very talented, dedicated, and special group of people … we have over the last five years quietly been part of an amazing turnaround story in our industry.”
In an interview with the Associated Press, Mr Kontomerkos said Mohegan Sun’s expansion from two properties to seven in the last five years has been key to the firm’s emergence from a financial predicament.
Mohegan Sun said in July it planned to start construction of its new casino resort in South Korea before the end of 2017.
"The positive underlying contribution from each of our operating segments provides a strong start to the year"
Chief executive of lottery and gaming supplier IGT