Mohegan Sun Says MGM Springfield Hurting Profits - NBC Connecticut

Mohegan Sun Says MGM Springfield Hurting Profits



    Screening Mammography: What's Your Excuse?
    NBC Connecticut

    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.

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