Monday, December 21, 2009

Mohegan Gaming Authority Audited Financial Statements To Be Made Public Any Day

Feather News

The Mohegan Tribal Gaming Authority could make public its audited financial statements as early as this week, based on the filing dates in previous years.

MTGA publicly announced in October its estimated earnings for fiscal year 2009, which are the 12 months that ended September 30th, and MTGA in November reported its actual earnings for fiscal year 2009. MTGA reported a profit of $119 million for the twelve months that ended on September 30, 2009. Its important to remember that distributions to the tribal government are not deducted and that $45 million of the profit is the result of an adjustment on paper relating to th the total amount expected to be paid to the casino´s former management company, Trading Cove Associates, over the next 5 years.

The audited financial statements will include the figures in this earnings report released in November in addition to the balance sheet and cash flow statement, which have not yet been made public.

Other information in MTGA´s financial statement filing with the U.S. Securities and Exchange Commission will include MTGA executive staff compensation and details on MTGA´s debt.

The Feather News will report on the filing, more than likely during the holidays.