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 This material may not be published, broadcast, rewritten or redistributed.

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