Mohegan Tribe's casino hit by downturn in economy

Wednesday, September 24, 2008  

Casinos are not immune from economic woes, as the Mohegan Tribe of Connecticut has demonstrated.

The tribe planned to spend nearly $1 billion to expand the Mohegan Sun Casino . But after months of disappointing slot machine returns and a major crisis on Wall Street, the project was abruptly halted on Monday.

”The whole recession-proof thing has certainly been put to rest,” Mitchell Etess, the president and CEO of the Mohegan Tribal Gaming Authority, told The New London Day.

The tribe did complete the first part of the expansion by adding more gaming space at the casino. But a hotel tower and other amenities are on hold for the next year as the tribe rides out the economic downturn.

Get the Story:
Move shows gambling not immune from downturn (The Norwich Bulletin 9/24)
Crisis on Wall Street hits home at Mohegan Sun (The Norwich Bulletin 9/24)
For Many, Expansion Delay Hits Sour Note (The New London Day 9/24)
Business Leaders: Tribe Made Right Move (The New London Day 9/24)
Mohegan Sun's Expansion Put on Hold (GlobeSt.Com 9/24)
Mohegans Suspend Expansion Plan (The Hartford Courant 9/24)
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