Ahhh....Newsflash

Just something to consider as we rush pell mell into our LOVE for the "Destination Casino". Don't forget, all other things being equal, more profits equals more jobs, and fewer profits equals fewer jobs. Something to keep in mind.

Thursday, July 29, 2010


Flash: Mohegan Gaming Authority Announces 50% Decline In 3rd Quarter Profits

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The Mohegan Tribal Gaming Authority reported a 50 percent decline in profits for the months of April through June compared to the same three-month period last year.

In its third quarter report issued today, MTGA reported profits (net income) of $11.6 million. These profits do not take into account distributions to the Tribal government. While the report does not detail the distributions for the three-month period, the report estimated that distributions to the Tribal government for the 12 months of fiscal year 2010 would be $59 million.

MTGA officials attributed the decline in part to a lower hold percentage in table games.
The Tribe's Pocono Downs racino in Pennsylvania continues to lose money when taking into account the hefty interest expenses associated with that facility.