Mohegan Sun is reporting that MGM's new casino in Massachusetts is taking a bite out of its profits.
The company reported Thursday that net revenues at its flagship Connecticut casino dropped about 3 percent in the quarter that ended Sept. 30.
Mohegan Sun, which also operates a casino in Pennsylvania, said the Uncasville casino pulled in $275 million, down from $284 million during the same period last year. Income from operations fell 22 percent from $71 million in the same period last year to $55 million.
The company acknowledged that "new competition in the New England region" was a factor, though it said the impact has been "in-line to slightly better than expected."
MGM Springfield opened near the Connecticut state line this August as Massachusetts' first resort casino.
