Monday, June 23, 2008

Corrections

Feather News


In a June 9 article entitled “Wusmissing,” the fiscal year 2007 cost of the Mohegan Tribal Gaming Commission’s corporate department responsible for business diversification was incorrect. The cost for the “corporate department,” as it is labeled in MTGA’s financial statements, was $10.6 million in fiscal year 2007. Editor’s Note: The rate of spending on the “corporate” diversification department has doubled since September: The cost for the “corporate” department for the first six months alone of the current fiscal year (October through March) was $11.2 million.

An early version of another June 9th article, entitled “Tribe’s Diversification Briefing,” said that the Tribe has not publically stated the cumulative cost of the Tribe’s attempt to build and manage a casino in partnership with the Menominee Tribe in Wisconsin. Since that article, we’ve been made aware of a February 22, 2008 article in the Milwaukee Business Journal in which Leo Chupaska, MTGA’s Chief Financial Officer, is quoted as saying the Tribe has so far spent $9 million on the casino project in Wisconsin. The article also went on to say, “According to a regulatory filing last week … reduced the value of future reimbursable development costs by $2.7 million and reduced the value of the development rights, valued at $3.7 million when the tribe acquired the rights last year from Kenosha businessman Dennis Troha, by $840,000. The writedown came after the U.S. Bureau of Indian Affairs in January rejected 11 applications from Indian tribes across the country to have non-reservation land taken into federal trust for the purpose of developing an Indian casino.”

Both articles have been updated to reflect these corrections.