The gaming and hospitality industry beheld significant executive movements as Mohegan confirmed that its Chief Operating Officer (COO), Michael Madigan, is slated to vacate his position starting August 1. Following a substantial tenure at the company, Madigan is opting for a sabbatical before officially ending his active duties on the aforementioned date. With an impressive professional journey, Madigan first marked his entry into Mohegan in August 2021, contributing over two and a half years to the company’s growth and strategic direction.
Madigan’s extensive expertise was not confined to his latest role. His impressive resume spans several senior positions in the casino sector, including a stint as the general manager for over three years at the Mohegan-owned Paragon Casino Resort. His accumulated insights and leadership in these roles have been pivotal in sculpting the operational successes of each establishment.
As Madigan prepares to step down, the organization has entrusted Tom Hasson with the interim COO responsibilities while initiating the search for a permanent figurehead. Hasson, not new to the dance of high-stakes roles, will simultaneously maintain his current obligations as the general manager of Mohegan Casino at Virgin Hotels Las Vegas.
Hasson’s professional archives reveal a seasoned industry veteran who has navigated various critical positions. His portfolio includes a noteworthy period as COO of Station Casinos and Red Rock Resorts. Moreover, his expertise was instrumental as senior vice president of operations at Station Casinos and while commanding the helm at Graton Resort & Casino. With such a rich background, Hasson represents an embodiment of leadership and industry acumen.
In his interim capacity, Hasson will report directly to Mohegan’s CEO and President, Ray Pineault, who extols Hasson’s profound industry acumen and commitment to service excellence. Pineault expresses firm confidence in Hasson’s ability to guide the company with operational prowess and uphold the premier guest experiences Mohegan is known for, saying, “We are confident Joe’s extensive experience and proven leadership will ensure continuity in our operations and guest experience.”
This transition marks the latest in a series of strategic appointments within Mohegan’s senior management. The corporation recently heralded Ari Glazer as the incoming chief financial officer (CFO), starting May 1, taking over from the outgoing Carol Anderson, whose departure was publicized in October of the previous year. Glazer, crossing over from a fruitful career spanning over 20 years with Citigroup, was the managing director and global head of gaming and hospitality client coverage. Until Glazer’s induction, Pineault is helming the finance functions.
The backdrop of these management changes is Mohegan’s fiscal performance, which soared to unprecedented heights in 2023. The company’s revenue climbed to hit a historic peak of $1.67 billion, complemented by a remarkable adjusted EBITDA of $399.9 million. This figure is just shy of their record EBITDA, cementing the company’s financial vigor and strategic industry standing.
The decision for Madigan’s departure, juxtaposed with the appointment of Hasson as interim COO and Glazer’s entry as CFO, constitutes a refreshed strategic leadership matrix for Mohegan. It showcases proactive governance and an adaptative structure that aims to perpetuate and amplify the company’s success and growth in the competitive landscape of the gaming and hospitality industry.
