The Mohegan Tribe, which owns the WNBA’s Connecticut Sun, has hired Allen & Company to assess the value and potential sale of the team. The tribe is exploring its options for investments around the team and its future.
"We’re evaluating strategic options for investments around the team and its future," said Jennifer Rizzotti, president of the Sun. "It’s not about exploring options to sell the team but rather considering various possibilities for growth and development."
Rizzotti clarified her statement amid recent changes within the organization. The team underwent a significant roster overhaul following last season’s playoff run. The WNBA appreciates what Mohegan has done for this franchise, as the tribe’s efforts have significantly contributed to growing women’s basketball in Connecticut.
Despite off-field challenges related to arena capacity limitations, Rizzotti remains committed to rebuilding on-court success with a new-look roster featuring players like:
- Breanna Stewart
- Brionna Jones
- Alyssa Thomas
- Jonquel Jones
"We’re excited about our new group," Rizzotti said. "We think we’ve got some talented young players who are going to be able to help us grow as an organization."
Background on Mohegan Tribe’s Investments
The Mohegan Tribe purchased a 51% stake in New England Sports Ventures (NESV) in 2011, with plans to eventually purchase NESV outright from Fenway Sports Group (FSG). However, FSG retained control over NESV until it sold NESV back in January 2022 after being acquired by RedBird Capital Partners LLC.
In addition to owning NESV through FSG’s acquisition by RedBird Capital Partners LLC earlier this year, the Mohegan Tribe also owns Foxwoods Resort Casino through their parent company, Mohegan Gaming & Entertainment (MGE).
Mohegan Gaming & Entertainment Properties
Foxwoods Resort Casino is one of two casinos owned by MGE; they also own Resorts World Las Vegas through their subsidiary, Mohegan Gaming East Coast Inc. This subsidiary was formed after MGE acquired a majority interest in RWLV from Blackstone Group Inc., a private equity firm based in New York City.
MGE operates several other gaming properties worldwide, including:
- Casino de Montreal in Canada
- City Of Dreams Manila in Manila, Philippines
- Solaire Resort & Casino in Parañaque City, Philippines
- Okada Manila in Parañaque City, Philippines
- Solaire North America at Bally’s Atlantic City Hotel & Casino located on Atlantic City Boardwalk
Foxwoods Casino reportedly has over 5,000 employees according to payroll records filed with the State of Connecticut Department of Labor since 2006.
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