Mo­he­gan Sun says MGM Spring­field hurt­ing prof­its

The Day - - REGION -

Mo­he­gan (AP) — Mo­he­gan Sun is re­port­ing that MGM’s new casino in Mas­sachusetts is tak­ing a bite out of its prof­its.

The com­pany re­ported Thurs­day that net rev­enues at its flag­ship Con­necti­cut casino dropped about three per­cent in the quar­ter that ended Sept. 30.

Mo­he­gan Sun, which also op­er­ates a casino in Penn­syl­va­nia, said the Un­casville casino pulled in $275 mil­lion, down from $284 mil­lion dur­ing the same pe­riod last year. In­come from op­er­a­tions fell 22 per­cent from $71 mil­lion in the same pe­riod last year to $55 mil­lion.

The com­pany ac­knowl­edged that “new com­pe­ti­tion in the New Eng­land re­gion” was a fac­tor, though it said the im­pact has been “in-line to slightly bet­ter than ex­pected.”

MGM Spring­field opened near the Con­necti­cut state line this Au­gust as Mas­sachusetts’ first re­sort casino.

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