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Mohegan Sun Official On Profit Slip

Published: July 30, 2014 12:53 pm ET

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Officials with the Mohegan Tribal Gaming Authority have stated that the company will continue to aggressively pursue gaming licences despite having reported declines during the quarter which ended June 30, 2014.

A report by theday.com states that, prior to a conference call with gaming analysts, Mohegan Sun officials announced that the company’s profit for the quarter was down 37.7 per cent compared to the same time period one year prior.

According to the article, the quarterly results were described as “mixed” by the authority’s CEO, Mitchell Etess. The report goes on to state that Etess cited competition and sluggish economic recovery for the reason profits in the quarter were low.

Theday.com has quoted Etess as saying that the authority faces “the same challenges as many of our peers.”

The Mohegan Tribal Gaming Authority operates Mohegan Sun at Pocono Downs, which operates live harness racing in Pennsylvania.

(With files from theday.com)


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