May 03, 2006

After announcing a new strategic partnership with MGM Mirage last week, the Mashantucket Pequot Tribal Nation, owner of Foxwoods Resort Casino in Connecticut, confirmed its intention to open a $400 million casino resort at the site of the Broadwater Hotel in Biloxi, Miss., taking advantage of tax breaks set up to encourage redevelopment of the Gulf Coast. The resort will be known as Foxwoods Resort Casino at Broadwater Beach, but other details have not been released. Foxwoods also is one of five applicants vying for two commercial gaming licenses in Philadelphia. If selected, the company would build a $400 million casino there.

William Velardo, CEO of the Mohegan Tribal Gaming Authority, which operates the Mohegan Sun casino and entertainment complex near Uncasville, Conn., has resigned to accept a job in Las Vegas. Mitchell Grossinger Etess, currently president and CEO of Mohegan Sun, will permanently assume duties as CEO of the authority tomorrow. A spokesperson for Mohegan Sun said Velardo's resignation was unexpected and his contract had not expired. The spokesperson did not have details about Velardo's new job in Las Vegas.