Mohegan Sun Says MGM Springfield Hurting Profits

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.

Copyright AP - Associated Press
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