On May 2, 2007, Mohegan Tribal Association Authority’s revenues improved by about 22% in the last quarter. They were boosted by slots revenue from the Pocono Mountains in Pennsylvania and their developing eastern Connecticut gaming facility.
The profits for the quarter, ending on March 31, 2007, rose to a total of $42.3 million, from $34.8 million in the same period last year.
The current profit for the quarter was $390 million, which improved a total of over 16% from the same 3 month period in 2006. Gambling related profits formed most of the earnings, at a total of $357 million.
The Mohegan Tribal Authority commented that they also acquired a $1 Billion credit line in March 2007 to fund the construction and development of Project Horizon, a hotel with 1,000 rooms and a music center at the Mohegan Sun Casino in Uncasville.
Bruce S. Bozum, Chairman of the Authority Management Board, said that the attention of the board, as well as senior management of the board at Project Horizon and the expansion of the Mohegan Sun at the Pocono Downs, is good evidence that they have not lost focus of their goals.
The Mohegan Tribal Nation, the operators of the Pocono Downs Harness Racing Facility located in Wilkes-Barre, Pennsylvania spent a total of $70 million on a slots facility which has 1,000 slot machines, a bar and a food court with 3 different restaurants. The facility opened last year.