The Seneca Indian Nation, operators of three casinos in upstate New York, reported in December that it lost $19.3 million in the last fiscal year.
Various newspapers noted that the Seneca Gaming Corporation reported a loss but what hadn´t been reported in those articles is that the Seneca Gaming Corporation included a $108 million expense related to its halting of expansion projects. Had the Seneca Gaming Corporation not booked that $108 million impairment charge then the Seneca Gaming Corporation would have reported a profit of about $87 million.
The Mohegan Tribal Gaming Authority has yet to record any impairment charge related to its halting of the construction on a high-rise hotel, a decision that was announced over a year ago.
The Seneca Gaming Corporation, like MTGA, must file their financial statements with the U.S. Securities and Exchange Commission due to both entities borrowing money through public bond markets.
Seasonal Closing - Because the Mashantucket Pequot Museum and Research Center is closing seasonally this year, the Research Library, the Children’s Library, and Archives & Sp...
3 years ago