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Mashantucket Pequot Gaming Welcomes Butera as New President

Posted on November 6th, 2010

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In an announcement made Friday, the Mashantucket Pequot Tribal Council named Scott Butera, President and CEO of Mashantucket Pequot Gaming Enterprises. Butera was last seen in gaming industry circles as the former president and chief executive officer of Tropicana Entertainment. He has under his belt more than twenty years of experience in the casino and finance industries, having been in the top echelons of various companies in Las Vegas, Atlantic City and even on Wall Street. Butera was even proclaimed by industry publication Casino Connection Magazine as a “turnaround artist.” He has been hailed as the main person responsible for getting the Trump Organization out of bankruptcy in 2005. Moreover, he is also known for his reputation of being results-driven when it comes to the areas of boosting employee morale and maximizing a company’s potential for profit.

Butera became president of Tropicana Entertainment on 2008, and engineered the financial and operational restructuring of the company, which casino analysts agreed to as successful. Aside from Tropicana, Butera’s also had another million dollar restructuring project with Trump Hotels & Casino Resorts, Inc., which was also successful. A month after becoming president, he was named Chief Executive Officer and was givien a seat in the company’s Board of Managers. Butera also held a position with the Regulatory Gaming Compliance Committee of Tropicana. Prior to joining Tropicana Entertainment, Mr. Butera held a number of executive positions in the gaming industry, including his term as an Executive Director for UBS Investment Bank, which culminated a fifteen-year career as an investment banker focused on the gaming, lodging, and real estate industries. Aside from his two-year stint in Tropicana and his stay with Trump, Butera was also Chief Operating Officer of the Cosmopolitan Resort Casino in Las Vegas, Nevada, President of Las Vegas-based casino developer Metroflag Management LLC. He was also an investment banker for 15 years with UBS Investment Bank.

The Chairman of the Mashantucket Pequot Tribal Council, Rodney A. Butler, said that his group is thrilled to welcome Butera as the new CEO and president of Foxwoods Resort Casino and MGM Grand at Foxwoods. He said that they are recognizing Butera as one of the gaming industry’s most innovative business leaders today. He added, “Mr. Butera is no stranger to economic adversity, and his track record of proven results will undoubtedly boost our team members with confidence as he steers Foxwoods and MGM Grand at Foxwoods into a profitable and prosperous future. Special thanks are extended to William Sherlock, who has been serving as our Interim President for these past several months and has been instrumental in identifying Mr. Butera for this position. Mr. Sherlock will continue to work with us through the end of December, and has agreed to be available as an advisor in the future as needed.”

For his part, Butera said that he is honored to be appointed as the new President and CEO of Foxwoods Resort Casino and MGM Grand at Foxwoods. He further said, “As North America’s largest resort casino, Foxwoods is a true industry leader, and I look forward bringing my own experience and insight to the Mashantucket Pequot Tribal Nation, who has done so much for the state of Connecticut and this region.” Buters will handle the responsibilities of strategic leadership to put the company as the premiere entertainment destination of the East Coast. As President and CEO of the Mashantucket Pequot Gaming Enterprises, he will look into day to day operations, marketing of the East Coast facilities and development of executive staff. He will also be advising the Tribal Council in terms of strategic direction, financial performance and other pertinent developments.

Batera will mainly be the man in charge of Foxwoods Resort Casino, located at the Mashantucket Pequot Indian reservation in Connecticut. Foxwoods – Mashantucket is the biggest casino in North America in terms of area and number attractions. This complex actually has six casinos, with more than 6,600 slots, 360 table games and 97 poker tables housed in the only WPT World Poker Room on the East Coast. Other gaming facilities in Foxwoods include a High Stakes Bingo hall and Ultimate Race Book. In the complex, there are also four hotels more than 30 dining choices, and a world-class entertainment venue. The Mashantucket Pequot Tribe owns the facility.