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Mohegan’s 2Q profits up on cost cutting

The Mohegan Tribal Gaming Authority said its second-quarter profits rose more than 50 percent, as expense cutting overcame a decline in revenue.

MTGA, which operates Mohegan Sun casinos in Connecticut and Pennsylvania, booked $15 million in net income, up from $9.6 million in the second quarter of 2014.

Net revenue fell $6.3 million, or 2 percent, to $310.4 million, mostly from gaming.

But MTGA cut operating costs and expenses by $10.2 million.

In Connecticut, Mohegan Sun’s net revenue was down 1.3 percent, to $240.3 million.

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