Mohegan Sun Sets 10th Anniversary Plans

According to Mitchell Etess, CEO of the Mohegan Tribal Gaming Authority and president and CEO of Mohegan Sun, According to Etess, the tribe has hired an architectural firm to create a master plan for the casino resort. As part of the plan it’s virtually guaranteed they will add more hotel rooms as well as a host of other amenities including additonal casino space. With 1,200 rooms on site Etess believe the demand far outweighs the supply of rooms available. The tribe has recently closed on the purchase of a golf club and country club a short drive away.

“The Mohegan Sun you see today won’t be the one you see in five or 10 years,” said at a New York City event celebrating the anniversary announcement. “We are continuing to evolve.”

The tribe is also expanding outside of Connecticut. The Mohegans own Mohegan Sun at Pocono Downs, a harness racing facility located on 400 acres in Plains, Pennsylvania. The property will soon add a 400,000 square foot gaming and entertainment facility at the site with approximately 2,000 slot machines, three full-service restaurants, a 300 seat buffet, a 15,000 square foot food court, several bars and lounges, an 18,000 square foot nightclub, a "Kid's Quest" center and 20,000 square feet of retail space. It’s expected to cost between $140 and $160 million.

They also have two deals to consult with the Menominee Indian Tribe of Wisconsin and the Cowlitz Indian Tribe of Washington State to help those tribes develop their own venues.

Revenues are also at a record level. For the quarter ended March 31, 2006, revenue jumped 6.9% from the same period last year, raking in a record $303.9 million in revenue. Net income was $34.8 million, a 1.7% increase from the prior year while Adjusted EBITA was also at record levels at $87.7 million, a 9.1% increase over the corresponding period in the prior year.

During the last decade Etess said the tribe has contributed $1.5 billion in taxes to the state of Connecticut.  In general, Etess remarked U.S. Indian is generating $14 billion in annual profits nationwide, more than the combined profit of Las Vegas and Atlantic City.

And since times are good, Etess said he doesn’t fear that Rhode Island may soon approve a $1 billion casino to be created by the Narragansett Indians in conjunction with Harrah’s Entertainment. Rhode Island voters are set to make their decision on this issue with a November referendum. “There can’t be enough [casino gaming] in New England and we want other tribes to get ahead and enjoy the benefits casino gaming brings,” said Etess

Mohegan Sun also unveiled its plans to celebrate its 10th anniversary this fall with a series of special events during the weekend of October 19-22. The event will include performances by Jerry Seinfeld and Lily Tomlin, and a reunion of the original cast of Laugh-In cast featuring Tomlin, Arte Johnson, Joanne Worley, Ruth Buzzi and others yet to be announced. 

"When we first opened our doors in 1996, I don't know that any of us anticipated that we would be in the extraordinary position we are in today.  We want to commemorate this major milestone with a gala celebration that honors our commitment to world-class entertainment and unique events," said Etess. 

Others involved in the event include radio host Don Imus, Late Show host Craig Ferguson, rock bad Barenaked Ladies and a pre season NBA game between the Boston Celtics and New York Knicks.

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