The president of the casinos at Foxwoods called it quits today, abruptly resigning as Foxwoods expands its marketing but gaming revenues decline.
Michael Speller, president of the Mashantucket Pequot Gaming Enterprises, resigned effective immediately today to pursue other career opportunities, according to an announcement from the Mashantucket Pequot Tribal Council. Speller oversaw all operations at the Foxwoods Resort Casino and the MGM Grand at Foxwoods, which sit on the same property.
Speller had served in the position for little more than a year, receiving the appointment in December 2008. In his career, Speller has nearly 40 years of experience in the gaming business.
Last week, Foxwoods announced a new sponsorship with the WNBA’s New York Liberty to put the casino’s logo on the team’s uniforms. The move competes directly in the women’s basketball market with the Mohegan Sun casino in Uncasville, which owns the WNBA’s Connecticut Sun.
Revenues from the Foxwoods casinos have declined during the economic recession. The latest figures reported from April show slot win declined 9.1 percent compared to April 2009.
William Sherlock will serve as the interim president while the tribal council searches for a new president and CEO. Sherlock previously has served as president and CEO of Foxwoods, from 2000-2007. Sherlock then became board manager of Foxwoods Development Company, helping the Mashantucket Pequot Tribe find new resort and development opportunities.
