A management agreement between the Mohegan tribe of Connecticut and Resorts Atlantic City has been approved by the New Jersey Casino Control Commission.
Under the approval, the tribe can invest in online gambling through Resorts and will continue to own up to 10 percent of the brick-and-mortar casino. The approval cancels a provision that would have allowed the tribe to buy an additional 15 percent of Resorts. The tribe runs the day-to-day operations of Resorts.
Matthew Levinson, the commission’s chairman, said the 2012 pact between Resorts and the tribe’s gambling arm, Mohegan Gaming Advisors, “has proven to be a valuable tool in strengthening Resorts’ financial position, bringing new visitors to Resorts and Atlantic City, and ultimately furthering the ongoing transition of Atlantic City into a destination resort,” according to the AP.
The commission extended the management agreement through 2019.
