Mohegan Tribe reports big decline in gaming enterprise profits

Friday, November 30, 2012
Filed Under: Connecticut
More on: economy, hotels, mohegan, pennsylvania

The Mohegan Tribe of Connecticut reported a big drop in profits at its gaming enterprise.

The Mohegan Tribal Gaming Authority saw a 68 percent drop in net income and a 29 percent drop in profit for the fourth quarter. The decline was mainly attributed to severance payments for 300 Mohegan Sun employees who were laid off in September.

But visitors to to the casino appear to be spending less, Chairman Bruce “Two Dogs” Bozsum said during a conference call, The Norwich Bulletin reported. The tribe, however, plans to add another hotel to the facility as the existing hotel continues to perform well.

The tribe also operates a commercial gaming facility in Pennsylvania.

Get the Story:
Fiscal year ends on sour note for Mohegan Sun parent firm (The Norwich Bulletin 11/30)
Mohegan Sun Profits Fall Sharply In Fourth Quarter (The Hartford Courant 11/30)
Mohegan: Earnings 'dismal'; Etess optimistic (The New London Day 11/30)
Mohegan Sun profits down 68% from 4th quarter of last year (The New Haven Register 11/30)