Mohegan Sun reported increases in first-quarter revenue and profit. This is the second increases in a row, after posting a modest increase in December. Reasons for the change, according to CEO Mitchell Etess:
- table games and slot machines brought in more money
- Mohegan Tribal Gaming Authority’s Pennsylvania property Mohegan Sun Pocono in Wilkes-Barre saw business increase in it’s hotel, which completed its first year in business.
- The authority said the profit increase was due largely to payment of debt for refinancing before it was due and rising income.
But, I also think the economy is improving, giving more people incentive to spend on leisure activities. Oddly enough, while not mentioned in recent articles I’ve read, I would suggest the fact that Mohegan Sun in not pouring millions of dollars into casino projects that didn’t materialize, which took it’s toll on the bottom line, is also a major factor. Without those continued future expenses to nowhere, without those bills to keep paying, Mohegan Sun most certainly can concentrate on it’s other endeavors – Arooga’s franchises, Atlantic City Resorts,
helping other Tribal casinos like the Cowlits and other projects to make money instead of sucking dollars away without an end in sight.
Maybe Massachusetts did Mohegan Sun a favor by selecting Wynn.
That’s all for now.