The Mohegan Tribal Gaming Authority, which owns and operates Mohegan Sun in Uncasville and another casino in Pennsylvania, said its fourth-quarter net income fell 67 percent to $4.9 million because of higher costs from debt refinancing and its pursuit of approvals for a casino in Massachusetts.
Net revenue was $345.3 million, down 1.9 percent from the fourth quarter a year ago.
The largest piece of the top line — gaming — was down 2.9 percent. Slots revenue was down 6.2 percent.
In Uncasville, net revenue was down 1 percent to $269.5 million.
The authority said refinancing of its debt over the past year will yield $16 million in annualized savings.
Mohegan’s proposed casino for Palmer, Mass., was defeated in a close election earlier this month. It’s not yet clear if Mohegan will find another partner and location in that state, which has seen several election defeats and gaming partner realignments.
Yesterday, Foxwoods’ proposal for the town of Milford , Mass., was defeated at the polls by a nearly two-to-one margin, according to the Associated Press.
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