Mohegan Sun Casino Revenue Drops, But Company Still Pleased

What casino companies around the US are dealing with at this time is trying to offset their revenue losses by cutting cost in other operating areas. That is what is making Mohegan Sun think positively about their latest revenue decline.

The Mohegan Tribal Gaming Authority released revenue figures on Thursday and the company's revenue for the second quarter of 2009 was down sixteen percent. That was for the months of January, February, and March.

While the revenue was down, the company was still pleased because they cut their operating costs by over eighteen percent. That left the second quarter total net income at $33.2 million, less than a one percent drop from the same quarter the previous year.

"We're relatively pleased with our results," said Mitchell Etess, the Chief Executive Officer for the Authority. The company is continuing to analyze ways that they can cut costs in preparation for riding out the current recession.

The recession has created trouble for the entire casino gaming industry in the US. An industry that used to be considered to be immune to any recession or depression periods in US history, has been among the hardest hit by the current economic troubles in the country.

May 2, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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