Shares of MTR Gaming Group (NASDAQ:MNTG) fell sharply around noon Tuesday after news hit that its chief executive, Robert F. Griffin, will be leaving to take up the similar post at Trump Entertainment Resorts.

Griffin, 51, a gaming and hospitality industry veteran with more than 30 years experience, will become Trump’s new chief executive and member of its board of directors.

He is replacing Mark Juliano, who has served as CEO and board member since August 2007, and is leaving later this year to pursue other opportunities.

Juliano will serve as CEO during a transition period that will extend until the time Griffin joins the company, expected in late October or November, pending regulatory approvals.

Griffin served as CEO of MTR Gaming, which operates casino and racetrack facilities in West Virginia, Pennsylvania and Ohio, since 2008, and became a member of its board of directors in March.

Prior to MTR, Griffin served as senior vice president of operations of Isle of Caprio Casinos from 2004 to 2008, where he was responsible for 16 racing and gaming facilities in the US, United Kingdom and Bahamas.

Earlier in his career, he held a senior management position at Trump Entertainment’s Trump Marina Hotel Casino in Atlantic City, New Jersey.