Scott Butera has been named new CEO of Foxwoods
Butera will start his role as the new chief executive of Foxwoods Resort Casino's parent company by renegotiating debt and working with new partners. His plan is to help the Connecticut hotel and casino boost revenue and profit.
The appointment of head of Mashantucket Pequot Gaming Enterprises, which owns Foxwoods, was announced Thursday. Butera said in an interview that he will be seeking partners. While he did not name possible partners he did say his goal was to help Foxwoods become more competitive.
Butera, whose past includes a stint as president and chief executive of Las Vegas-based Tropicana Entertainment Inc, is implementing a plan that is in keeping with the recent direction of the Mashantucket tribe, which has been seeking to restructure billions of dollars in debt. While Butera did not specify a dollar amount, he did imply that there was not a rush, as creditors have not imposed a deadline for renegotiating debt.