The Mohegan Tribal Gaming Authority, operators of the Mohegan Sun resort casino in Montville, plans to open a $600 million casino and racing facility in upstate New York’s Catskills by 2013.
Separately, the gaming authority announced second-quarter earnings reached $25.2 million, a 26 percent increase from the second quarter of 2010.
The Catskills development would be something of a homecoming for Mohegan CEO Mitchell Grossinger Etess, who learned the hospitality business at his family’s hotel in the same region.
“This project, under the powerful Mohegan Sun brand, will become a catalyst for the Catskills to regain its status as a world-class resort destination,” Grossinger Etess said in a press release.
The development of the Concord Hotel into a resort casino includes a 75,000 square foot casino, a 258-room hotel and a harness racing facility with a grandstand on the 116-acre site.
This first phase of the project will break ground in June and be complete in the spring of 2013, according to the Mohegans.
The project is a joint venture with Concord Associates and Jefferies Investment Bank.
In addition to its flagship resort casino in Connecticut, the Mohegans have another property in Pennsylvania. The authority is exploring other opportunities as well, including a resort casino in Palmer, Mass.
