Mohegan Sun casinos report 1Q rise in revenue, profit

UNCASVILLE, Conn. (AP) — Revenue at the parent company of the Mohegan Sun casinos in Connecticut and Pennsylvania rose in the first quarter as table games and slot machines brought in more money and the casino’s hotel in Pennsylvania completed its first full year in business.

The Mohegan Tribal Gaming Authority said Thursday that in its fiscal quarter ending Dec. 31, revenue was $316.7 million, up 1.2 percent from the year-ago period. Profit of $14.8 million compared with a net loss of $67.3 million in the same three months of 2013.

Chief Executive Officer Mitchell Grossinger Etess said the quarterly increase in slot revenue was the greatest since the fourth quarter of 2007.

The authority said the profit increase was due largely to payment of debt for refinancing before it was due and rising income.

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

WTNH NEWS8 provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review. Also, you can now block any inappropriate user by simple selecting the drop down menu on the right of any comment and selection "Block User" from there.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s