The tribal owner of Mohegan Sun resort casino in Montville’s Uncasville section says fiscal first-quarter earnings fell 62 percent, to $9.1 million, due to higher interest charges and lower gaming revenues.
The Mohegan Tribal Gaming Authority, which operates three casinos in Connecticut, Pennsylvania, and New Jersey, said Tuesday revenues declined 7.7 percent, to $324.8 million in the three months ended Dec. 31.
The tribe blamed the loss on the uneven economy, the presidential election, and consumer nervousness about the “fiscal cliff” negotiations.
In addition to fallen revenues, the tribe said earnings were hit by a 50 percent increase in interest expenses to $43.3 million, the result reorganizing their debt last March.
