UNCASVILLE, Connecticut -- As reported by The Day: "Revenues at Mohegan Sun fell more than 16 percent in January, February and March, but the losses were partially offset by a cost-containment
The Mohegan Sun in Uncasville, Connecticut. program that reduced the casino's operating expenses by more than 18 percent.
"The figures were released Thursday by the Mohegan Tribal Gaming Authority, which discussed its second-quarter financial results in a conference call with investors and analysts. The authority owns and operates Mohegan Sun and Mohegan Sun at Pocono Downs, a Wilkes-Barre, Pa., facility that offers slot machines and harness racing. The authority's 2009 fiscal year began Oct. 1, 2008 and ends Sept. 30, 2009.
"The authority's consolidated results show its net income for the second quarter totaled $33.2 million, a decline of less than a percent over the same quarter in 2008.
"'We're relatively pleased with our results,' said Mitchell Etess, the authority's chief executive officer, who told call participants that the economy continues to take a toll on the gaming industry. He noted that the authority reported adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of $85.1 million for the quarter, a 1.4 percent decline, while net revenues came to $351.4 million, a 10.5 percent decrease..."
|Mohegan Sun, owned by the Mohegan Tribe, is one of the largest, most distinctive entertainment, gaming, shopping and meeting destinations in the United States. What began with the Casino of the Earth in 1996 has evolved into a destination that now includes: the Casino of the Sky and over 300,000 square feet of total gaming space; The Shops at Mohegan Sun, featuring more than 60 retail shops and dining venues; the 10,000-seat Mohegan Sun Arena for world-class sporting events and concerts, an intimate Cabaret Theatre; and a 34-story luxury hotel, featuring 1,200 guestrooms and suites, premier meeting and convention space and a world-class spa.|
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