MGM Springfield just some major tweaking in its top leadership. The changes have been made in the hope of reviving the $960 million gaming property. First to be affected is President Michael Mathias, who has held the position for 6 years.
He first joined MGM Springfield in 2014 as the chief operating officer. Over period he served as president, he has overseen the licensing and construction of the property that has come to be the $960 million integrated casino resort in downtown Springfield.
During the announcement, Jorge Perez, the Regional Portfolio President of MGM Resorts, said that Mathias was a great leader. He has played a big role in the construction and successful opening of the resort. He has also been crucial to creating great relationships with the Springfield community and with international partners from England. According to news by Casino.org, Mathias will be moving from Western Massachusetts to Las Vegas, where he will take the role of the senior Vice President of business development.
The second executive to be affected by the reshuffle is Courtney Wenleder, vice president and CFO of MGM Springfield. The fate of Wenleder in the gaming company is still unclear. MGM Springfield will be receiving a new addition to its leadership. Chris Kelley, former president and COO of MGM Northfield Park in Ohio, will be joining MGM Springfield. The gaming venue, which is located near Cleveland, was purchased by MGM Resorts in 2018 for not less than $1 billion.
In a statement to the press, Perez said that they cannot wait to have Chris join the Springfield. Chris is highly experienced in rebranding and integrating a brand into the community. They hope he will use these skills to develop MGM Springfield into a world class entertainment hub that has good relations with its community.
MGM Springfield has been facing a difficult time since August 2018. It has not been able to meet its premarket gaming revenue expectations.
It is not clear what has been affecting the initially thought upcoming gaming giant. Some blame the oversaturated market while others blame the MGM for its inability to attract customers. Other theories as to why Springfield has be struggling to stand is the management was not proactive enough in its marketing schemes.
In fact, the last two months have been the worst for MGM Springfield. In November and December, the gaming venue earned $19.9 million and $18.9 million respectively.
During the planning process, MGM Springfield had estimated that the property would be earning not less than $34 million every month in profits. Since its opening, the casino has never even once hit the target. Locals seem to know what has been ailing MGM. According to them the casino is not at all friendly to outsiders. It does not hold any shows or shopping to attract outsiders. It only relies on the locals.
Things could get bad for the gaming venue. Just a few miles from the venue, there are plans to build a new casino.