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Mon April 7, 2014
Mohegan Sun Sees Profit Decline But Doesn't Feel "The Pinch"
Originally published on Mon April 7, 2014 8:48 am
A gambling slump is eating into the profits of Mohegan Sun, but the 2,000 tribal members who draw benefits from the massive casino aren't feeling the pinch.
Under a strategy that began before the downturn hit Connecticut's Mohegan Sun, the tribe's gambling company is running casinos in Pennsylvania and Atlantic City and pursuing more projects in states including Washington, New York and Massachusetts.
The CEO of the Mohegan Tribal Gaming Authority says the goal is to protect the educational and health benefits for the tribe.
The Mohegans are among a small number of American Indian tribes to put their expertise to work at commercial casinos outside their reservations. For tribes that can pull it off, it's a way to diversify and protect against losses.
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