Mohegan Sun posts 4Q revenue slide, profit rise - WFSB 3 Connecticut

Mohegan Sun posts 4Q revenue slide, profit rise

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UNCASVILLE, CT (AP) -

The Mohegan Tribal Gaming Authority says fourth-quarter revenue fell from the same period last year, but profit jumped significantly as the operator of Connecticut and Pennsylvania casinos cut costs.

The parent company of the Mohegan Sun casinos in Uncasville, Connecticut, and Pocono Downs, Pennsylvania, said Thursday that revenue slid to $338.6 million in the quarter ended Sept. 30.

Revenue was $345.3 million in the fourth quarter of 2013.

Net income was $23.2 million, up from $4.8 million in the year-ago period.

Authority chief executive Mitchell Grossinger Etess said the results reflect "what appears to be a stabilizing revenue environment."

Kevin Brown, chairman of the Mohegan Tribal Council, said the Mohegan Sun and Connecticut rival Foxwoods Resort Casino support a joint casino to compete with Massachusetts, but no specific proposal is being considered.

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