Sunday, November 16, 2008

Mohegan Sun's Financial Reports Expected In December

Feather News

The Mohegan Sun will report its October slot machine revenues Monday but the next glimpse at its profitability is expected in mid-December.

Last year, the Mohegan Tribal Gaming Authority issued its earnings report for the three months of July through September and for the fiscal year on December 13, 2007. Two weeks after that, MTGA released its full set of audited financial statements, which also includes its balance sheet.

Should MTGA stick to that same schedule, it will be another month to see how MTGA performed for the three month period of July through September.

The last MTGA earnings (profits) report was issued at the end of July in which MTGA profits fell by 89 percent compared to the same period in 2007. The Tribal government, however, did not report that figure to tribal members in the Wuskuso newsletter. In fact, the reporting of the MTGA's quarterly earnings was taken away from Wuskuso staff and the writing of the Wuskuso article on MTGA's earnings was overseen by Tribal Council which misled tribal members by not reporting the actual profit decline.