The Mohegan Tribe of Uncasville on Monday said it has purchased two more wood pellet production facilities in Indiana and Tennessee, as the owners of the Mohegan Sun resort casino continue to diversify their revenue streams.
The tribe has completed the purchase of the Pennington Seed Co. plant in Ligonier, Ind., which will enable the Mohegan’s wood pellet business – Northeast Wood Products – to double its annual production. This comes after the May announces of Mohegan’s acquisition of Pennington plant and equipment acquisitions in Ohio and Virginia.
The tribe also announced Monday the acquisition of assets of Tennessee Hardwood Pellets of Kenton, Tenn. The tribe plants to move these production equipment into a soon-to-be-announced facility in the coming weeks. Once installed, Northeast Wood Products’ total production capacity will be 250,000 tons per year.
The Mohegans have launched several new business lines as the resort casino business has become more competitive in the Northeast. Those new lines include a restaurant chain and a professional lacrosse team.
